Menu
Partner salary disallowance
A partnership firm has given salary to its partners exceeding the allowable limit..One of their partner died during the year. My question is whether excess salary given to the partner who died will also be disallowed...?
Replies (2)
In the given case assesse is partnership firm and not the partner who died. AS per 40(b), excess portion shall be disallowed and taxed in firm's account. The disallowed portion is exempted in partner's hand while filing his ITR (hence no double taxation). Deceased partner ITR should be filed by his Legal heir/representative.
Thank you
Recent Threads
- Tds deduction queery
- Check ITR1 on income tax Form ITR1 Instead of 1 ho
- Form 121 requirement
- Interest on reversal of ITC when ITC balance avail
- Is MirrorFly an Instant Messaging Software?
- ITR filling for legal heir
- How Can I qualify CA Final Exam?
- Wrong reporting on 22 april 2026 under article inc
- Articeship Form 107
- TAN for Multiple States
Related Threads
CAclubindia
