hii...
Is there any maximum ceiling on active/working partner's remuneration in a partnership that is not registered???
what if the partnership is registered one???
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ACTIVE PARTNER REMUNERATION CEILING
Replies (3)
No there is no such maximum ceiling limit
There is a limit in respect of the remuneration paid to the working partners that can be claimed by the firm as deduction u/s 40(b).
Refer for more details: https://www.incometaxindia.gov.in/pages/acts/income-tax-act.aspx
That limit should be based on book profit
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