Partner's salary .

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Abhishek Kumar (Querist)
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10 March 2014 Dear Experts,

Can a Working Partner draw any amount of Salary..as per Deed ??

Thank You.

Anand Dad (Expert)
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10 March 2014 Nope.

Refer Sec. 40(b)

Abhishek Kumar (Querist)
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10 March 2014 Sec 40(b) is applicable for the Firm to claim Max. permissible Deduction..is it applicable to Partner's..?

Anand Dad (Expert)
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10 March 2014 He will be drawing from the firm only no.........

Abhishek Kumar (Querist)
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10 March 2014 sorry..i didn't get u..

Anand Dad (Expert)
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10 March 2014 Sec 40(b) is for deduction to firms...

correct

Anand Dad (Expert)
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10 March 2014 so if the firm cannot pay more than the ceiling, how can the partner receive it.

Anand Dad (Expert)
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10 March 2014 You just read the section with free mind in a fresh mood, you youerself will get it.....

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