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Partner's remunration

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(Querist)
26 November 2013 dear all
for the purposes of deduction of partner's remuneration from firm's income: -

is it necessary to write detail of partner's remuneration in deed

or

we can write remuneration will be paid as per section 40(b) of income tax
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CA Kapil Verma

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CA Kapil Verma (Expert)
26 November 2013 Yes you can draft deed as that remuneration will be paid according sec 40(b) of income tax

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