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Partner's remuneration
A partnership firm of hotel business having turover 8 crore annually. Please tell me can partners claim their remuneration?
Replies (2)
yes the can claim remuneration as per deed.
parrtners can claim remuneration subject to the overall limits specified in section 40(b) provided that the remuneration clause is mentioned in the p'ship deed.
the excess remuneration disallowed will be exempt in the hands of partners. only remuneration allowable will be taxed in partners hands.
the excess remuneration disallowed will be exempt in the hands of partners. only remuneration allowable will be taxed in partners hands.
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