Current a/c details
This query is : Resolved
29 March 2023
1.Partners remuneration is taxable or not.. For eg;current ac balance is 75000 and we add remuneration as say 1 lakhs.. if we close a partner's current on tranfer amoount to her,which amount it is taxable
2.If a partner invest a certain amount of money into business, while withdrawing the money whether it is taxable or not
3. Is there any limit to withdraw amount from partner,s current account
2.If a partner invest a certain amount of money into business, while withdrawing the money whether it is taxable or not
3. Is there any limit to withdraw amount from partner,s current account
29 March 2023
1. Remuneration paid or credited to partner's current account is taxable.
2. Investment or withdrawal is not taxable.
3. No, but it should be as per partnership deed.
2. Investment or withdrawal is not taxable.
3. No, but it should be as per partnership deed.
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