Good Afternoon all.
I have an idea that is Partnership can pay in cash to partner more than 20000 is there any restriction, can i take it as a drawings.
Thanks in Advance
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Payment to partner
Replies (2)
Restriction of income tax act will be applicable and you can pay but can't claim..
Drawings not applicable...
But, you can pay as remuneration as per IT act... Also it ll be pay through bank payment...
But, you can pay as remuneration as per IT act... Also it ll be pay through bank payment...
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