Minor Partners Remuneration

Respected Friends

i have a question to ask - If a minor is a partnrt of a firm by individual capacity, whether he/she can earn partners remuneration from the firm, pls explain this question from the poiny of view of two laws - Income tax Act 1961 & Indian Partnership Act 1932, pls. solve this question as early as possiable,

Thanks - Debashis  e mail ID - kstda @ rediffmail.com

Respected Friends i have a question to ask - If a minor is a partnrt of a firm by individual capacity, whether he/she can earn partners remuneration from the firm, pls explain this question from the poiny of view of two laws - Income tax Act 1961 & Indian Partnership Act 1932, pls. solve this question as early as possiable, Thanks - Debashis e mail ID - kstda @ rediffmail.com

Respected Friends i have a question to ask - If a minor is a partnrt of a firm by individual capacity, whether he/she can earn partners remuneration from the firm, pls explain this question from the poiny of view of two laws - Income tax Act 1961 & Indian Partnership Act 1932, pls. solve this question as early as possiable, Thanks - Debashis e mail ID - kstda @ rediffmail.com

For the purposes of partnership act, a minor is a partner in profits but not in losses, hence, he can get the remuneration from the firm....but it shall be taxable inthe hands of his/her parents as clubbing provisions shall apply..........

 

also, "if the amount is paid to a non-working partner or passive partner or sleeping partner or dormant partner, then it will not be deductible. But it can be paid to even a female/minor partner provided the partner is working. The onus of proof is on the assessee, i.e., the partnership firm. It is not required that the partner should be exclusively/wholetime working partner. He/she can be working part time and he/she can be working partner with more than one partnership firm."

minor is partner 4 his indevidual capacity and he is working partner and he do work for his/hir indevidul capacity then he/she get remuneration

after 4 times i got the answer though not the answer i want, because my question is whether such minor partners remuneration is allowable under income tax act or not,

ashish & r to all of u thank u very much for responding

Debashis

Any payment to a minor as a partner in the form of remuneration is very well deductible as if it is paid to major provided he is a working partner and that too within the limits and such amount shall be tax free u/s 10(2A)............