hello
I'd a query regarding partners remmunaration u/s 40b that can remmunaration allowable be more then actual remmunaration credited to partner's capital account?
this situation is arising because the actual remmunaration of the partner credited to capital account is as per profit earned by the firm, however after adding the disallowed expenses book profit as per 40b is increasing and hence remmunaration as per income tax act is increasing, so can i claim the increased remmunaration so calculated?
CAclubindia
