Partnership deed clause of remuneration

i am creating a Parnership firm in which i want to insert a Clause

Salary:

"Remuneration will be allowed to Mr. Rohit @ 15000 per month, no remuneration will be allowed to Mr. Amit Kumar."

Profit and Loss Distribution

Profits will be distributed in the ration of 1:1

I am a Chief account officer in a company and i alrady have taxable income so i want to avoid tax on my income from Computer Center which is nearly 250000 every year and Mr. rohit has no income source.

i am right in doing this or not, please help

Replies (1)

Salary given to partners are not allowed as per the amount mentioned in the deed but depends upon the book profits of the firm.

for more details visit and post : https://knowyourtaxation.blogspot.in/

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
12 November 2026
Auditor

Oz Taxation

Vijayawada

Graduate (Any)

View Details
Company
Featured 07 November 2026
Paid Assisstant

DPV & Associates

Chennai

CA Inter

View Details
Company
ARTICLESHIP 07 November 2026
Article Assisstant

DPV & Associates

Chennai

CA Inter

View Details
Company
16 October 2026
CA article trainee

Zerdi & Co. Chartered Accountants

Pune

CA Inter

View Details
Company
Featured ARTICLESHIP 28 October 2026
CA- Inter and Articles

N N V Satish & Co.,

Hyderabad

CA Inter

View Details
Company
ARTICLESHIP 22 October 2026
Articleship intern

Srinath Manikanta

Hyderabad

CA Inter

View Details
Company
Featured ARTICLESHIP 31 October 2026
CA Articleship

apricus india

Navi Mumbai

CA Inter

View Details
Company
ARTICLESHIP 17 October 2026
Articled Assistant

RRPM & Associates LLP

Chennai

CA Inter

View Details