SIR I WANT TO KNOW THAT IN LLP A PARTNER CAN BE GIVEN BOTH SALARY AND REMUNERATION IF THE STAEMENT IS RIGHT THEN WHICH SECTION OF INCOME TAX DEALS WITH IT
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Can a partner get both salary and remuneration in llp
Replies (3)
Section 28 for remuneration of partner in LLP
Salary and remuneration is one and the same.
Section 28 in The Limited Liability Partnership Act, 2008
28 Extent of liability of partner .-
(1) A partner is not personally liable, directly or indirectly for an obligation referred to in sub-section (3) of section 27 solely by reason of being a partner of the limited liability partnership.
(2) The provisions of sub-section (3) of section 27 and sub-section (1) of this section shall not affect the personal liability of a partner for his own wrongful act or omission, but a partner shall not be personally liable for the wrongful act or omission of any other partner of the limited liability partnership.
I AM TALKING ABOUT SECTION 28 OF INCOME TAX ACT
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