Query related to to 40(b)

vinay hingu (hard work is key to success)   (165 Points)

22 July 2013  

QUERY IS REGARDING PARTNERSHIP WHICH IS FORMED ON 12/12/12 SO FOR CALCULATION OF PARTNERS REMUNERATION WHEN WE PUT 12/12/12 AS STARTING DATE OF PARTNERSHIP THE TAXBASE SOFTWARE IS CALCULATING FROM DATE OF PARTNERSHIP. IS IT CORRECT TO CHARGE REMUNERATION FROM DATE OF PARTNERSHIP?? BCOS AS PER IT ACT IT HAS GIVEN THE AMT OF BOOK PROFIT AND FIRM WAS STARTED ONLY FROM 12/12/12 SO WHOLE REMUNERATION SHOULD BE ALLOWED TO PARTNERS AS PER OUR CALCULATION REMUNERATION IS 2620000 BUT IT IS SHOWING 89000 IT IS CHANGING AS PER DAYS IS IT RIGHT?