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Remuneration in partnership

Ataur Rehman (64 Points)

28 October 2021  
remuneration clause mein partnership deed ke ander kitne amount ka each partner remuneration dikha sakte hain. deed mein 2 partners hain. one Parner NRI hai. 2 partners ke liye kitne rupees tak remuneration dikha sakte hain. please guide me. please guide me

 4 Replies

Janak Shah (ca) (558 Points)
Replied 28 October 2021

There is no limit on remuneration. If there is a NRI partner it is always better to check DTAA otherwise TDS applicability will be involved.
Fix the remuneration based on expected profit and individual taxable income of partners.

CA Raj Doshi (Practising CA) (5528 Points)
Replied 29 October 2021

Remuneration shall be provided as per the agreed clause as per the partnership Deed. However maximum allowable remuneration for tax purposes shall be subject to limits u/s 40(b). Any amount paid or credited to a non resident partner shall be subject to the TDS provisions. Also, DTAA shall be referred subject to fulfillment of conditions, documentation and beneficial tax rate.

CA Aakarsh Jain (CA in Practice) (2868 Points)
Replied 31 October 2021

Agree with the above comment

Sourav (Student) (23897 Points)
Replied 01 November 2021

Agree with raj ji

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