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ALLOWABLE REMUNERATION OF PARTNERS- NO PARTNERSHIP DEEP

This query is : Resolved 
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(Querist)
23 June 2010 ONE OF OUR CLIENT A PARTNERSHIP FIRM(UNREGISTERED) HAVING TWO PARTNERS DO NOT MADE ANY PARTNERSHIP DEED.

MY QUESTION CAN THE ALLOWABLE REM. AS PER IT ACT CAN BE ALLOWED IF SAL/REM ETC. IS DR. TO P/L. AND IF NOT DEBITED TO P/L.

WAINTNG FOR URGENT REPLY.
MY ID abhipcc@rediffmail.com
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CA CS CIMA Prakash Somani

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CA CS CIMA Prakash Somani (Expert)
23 June 2010 No, as it is not a valid partnership.

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