Dear Sir
Can Designated Partner in LLP, act as CEO and get consultation fees instant of salary?
regards
Senthil Kumar
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Can Designated Partner in LLP. act as a CEO and get Consultation fees instant of Salary
Replies (1)
As per Income Tax Act, salary/consultation fee to partner - both will be treated as Remuneration to Partner.
Accordingly, such income will be considered an business income in partners individual ITR.
Regards
CA. Raj Doshi
R C D & Co.
Chartered Accountants
E : raj @ rcdco.in
Accordingly, such income will be considered an business income in partners individual ITR.
Regards
CA. Raj Doshi
R C D & Co.
Chartered Accountants
E : raj @ rcdco.in
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