Change in partner salary

This discussion covers the legal implications of changing partner salaries. It clarifies that amending the partnership deed is necessary if the original deed doesn't allow for mutual annual salary decisions. While notarisation isn't compulsory, updating the deed and filing revised documents with the return are key steps. The advice also highlights that if the original deed permits partners to mutually decide salaries annually, subject to IT Act Section 40(b), formal amendments might not be required.