Partners remuneration details
This query is : Resolved
04 June 2012
Dear sir,
Rs.1,00,000/- Partners Remuneration paid every month. This Amount Taxable or not?
If this Taxable amount, how to tax exemption taken for every month remuneration.
Please advice me.
With Regds,
Prakash C Gowda
Rs.1,00,000/- Partners Remuneration paid every month. This Amount Taxable or not?
If this Taxable amount, how to tax exemption taken for every month remuneration.
Please advice me.
With Regds,
Prakash C Gowda
04 June 2012
This remuneration is taxable in the hands of the partners under the head Income from Business or Profession.
04 June 2012
how to without taxable remuneration taken if any other transaction is their?
Thanks in Advance
Prakash C Gowda
Thanks in Advance
Prakash C Gowda
04 June 2012
I am unable to understand your query. Kindly explain in detail.
04 June 2012
Tax has to be paid by either of two..
if firm is paying taxes then no need to pay by partners. i.e profits in the hands of partners is not taxable. but the remumneration is taxable as firm is getting deduction from profit.
if firm is paying taxes then no need to pay by partners. i.e profits in the hands of partners is not taxable. but the remumneration is taxable as firm is getting deduction from profit.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST Regis.
- Tax on capital gains revoked us 54f
- Inventory of finished goods
- Should I include march foreign salary received in April in my income for FY 2023-24?
- Sale of property furniture sale
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Applicability of Ind As to associate of associate
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Refund of AY 22-23
- Disallowance of Section 43B(h) to sez units
- HSN Details in IFF/GSTR-1 & in GSTR 9
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
Trending Online Classes
CAclubindia
