Income tax Act 1961 Section 40 ( b)
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 March 2011
Any one please till me
If the partners deed specified partner salary 5000/- per month
If partner ship income is loss for the year
How much remuneration will be debited in income & expenses account
How much deduction in Statement of income
If the partners deed specified partner salary 5000/- per month
If partner ship income is loss for the year
How much remuneration will be debited in income & expenses account
How much deduction in Statement of income
30 March 2011
Hi,
In the case of Loss, the partners are eligible for the 1st slab of Mininmum amount given under Section 40b as it says which ever is lesser.
Thank you,
Regards
CA. LOHITH.J
B.Com,ACA,CS,(ICWA),SAPM Hons,ITF Hons
In the case of Loss, the partners are eligible for the 1st slab of Mininmum amount given under Section 40b as it says which ever is lesser.
Thank you,
Regards
CA. LOHITH.J
B.Com,ACA,CS,(ICWA),SAPM Hons,ITF Hons
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 March 2011
Ok sir thank you?
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