Partner's remuneration taxable under the income from business
This query is : Resolved
24 September 2024
As per books remuneration paid to partner is 669276,but allowable under 40(b) is 321592 rest of the amount is disallowed under the hand of firm.
While filing the income tax return of partner how we can show 669276 in return as taxable income is Rs 321592.How we can show the exempted portion of remuneration
While filing the income tax return of partner how we can show 669276 in return as taxable income is Rs 321592.How we can show the exempted portion of remuneration
24 September 2024
Show only Rs 321592 as taxable income and show balance amount under exempt income schedule stating the reason.
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