In a partnership firm ther this receipt of services post 10% TDS. total receipts post TDS is 6 lacs per annuam. there are 2 partners as per partnership deed (not registered). the deed says that per partner could be paid a sum of 15000 per month as salary.
Pl let me know how to claim maximum deduction both in firm and in hand of partner.
Calculation of Allowable remuneration of Partners in a firm depends on Book profits and not on turnover.
Kindly mention book profits.
Saini Pati Shah & Co LLP, Chartered Accountants
Mumbai
CA Foundation
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Kothari Jain Patil & Chartered Accountants
Pune
CA Inter
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PARV & Co.
New Delhi
CA Inter
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CCI
Pro
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