Calculation of interest in partnership firm

remuneration can be paid as per partnership deed 

BUT 

deduction of remuneration to partners = allowable remuneration for the computation of Income from PGBP is on the basis of BOOK PROFITS Sec 40(b) 

 

If partnership deed provided certain amount of remuneration so its also not allowed as deduction full & as per book profile deduction is allowed. i am right ?

For accounts purposes - remuneration paid is shown as an expenditure
for Income Tax purposes - remuneration paid is allowed as a deduction to the extent specified in section 40b
in that book profit is to be calculated by adding back the remuneration paid to profit as per books.After arriving at book profit, allowable remuneration shall be computed

I only said that deduction is available in income tax only as per section 40(b) irrespective of the amount given in partnership deed ?

Yes agreed !! @ Bhargav Nirmal 

Thanks