ALLOWABLE REMUNERATION OF PARTNERS- NO PARTNERSHIP DEEP
This query is : Resolved
23 June 2010
ONE OF OUR CLIENT A PARTNERSHIP FIRM(UNREGISTERED) HAVING TWO PARTNERS DO NOT MADE ANY PARTNERSHIP DEED.
MY QUESTION CAN THE ALLOWABLE REM. AS PER IT ACT CAN BE ALLOWED IF SAL/REM ETC. IS DR. TO P/L. AND IF NOT DEBITED TO P/L.
WAINTNG FOR URGENT REPLY.
MY ID abhipcc@rediffmail.com
MY QUESTION CAN THE ALLOWABLE REM. AS PER IT ACT CAN BE ALLOWED IF SAL/REM ETC. IS DR. TO P/L. AND IF NOT DEBITED TO P/L.
WAINTNG FOR URGENT REPLY.
MY ID abhipcc@rediffmail.com
23 June 2010
No, as it is not a valid partnership.
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