Remuneration to partner

This query is : Resolved

Report Abuse Follow Query Ask a Query

Gaurav Gupta

Gaurav Gupta (Querist)
Follow

13 August 2014 Maximum remuneration to be paid to working partner as per income tax act.

Rupesh Jain

Rupesh Jain (Expert)
Follow

13 August 2014 remuneration as per section 40(b)
upto book profit
rs. 3000000 then 90% book profit or Rs. 150000/- which ever is higher
and on balance after First Rs. 3000000 = 60%

CA UMESH DULAL

CA UMESH DULAL (Expert)
Follow

13 August 2014 i would like to add some points on rupesh answer

"provided it is authorized by partnership deed and method is specified on partnership deed"

Upgrade to CAclubindia Pro. Subscribe Now!

CA UMESH DULAL

CA UMESH DULAL (Expert)
Follow

13 August 2014 i would like to add some points on rupesh answer

"provided it is authorized by partnership deed and method is specified on partnership deed"

Gaurav Gupta

Gaurav Gupta (Querist)
Follow

13 August 2014 What is minimum Partner Capital

CA UMESH DULAL

CA UMESH DULAL (Expert)
Follow

13 August 2014 there is no requirement of minimum capital

CA UMESH DULAL

CA UMESH DULAL (Expert)
Follow

13 August 2014 there is no requirement of minimum capital

Gaurav Gupta

Gaurav Gupta (Querist)
Follow

13 August 2014 opening capital around Rs.250000/-
closing capital is zero
then?