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Remuneration of working partners

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(Querist)
30 August 2008 Can remuneration to working partners be as a percentage of net profit. Does such a clause meet the requirement of Income tax Act.
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CA RAMESH KUMAR AHUJA

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CA RAMESH KUMAR AHUJA (Expert)
01 September 2008 No, it should be certain and determinable from the partnership deed. In other words it should not be variable but fixed.

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