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ACTIVE PARTNER REMUNERATION CEILING

IPCC 267 views 3 replies
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Accts Assistant
141 Points Joined May 2017
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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On 08 June 2021 at 12:20 Report
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Chartered Accountant
24588 Points Joined November 2019
No there is no such maximum ceiling limit
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On 08 June 2021 at 14:18
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CMA
13117 Points Joined May 2009
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
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On 08 June 2021 at 16:11
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Chartered Accountant
24588 Points Joined November 2019
That limit should be based on book profit
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On 09 June 2021 at 11:14

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