Partners renumeration u/s 40a
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 November 2011
i just wanted to confirm that renumeration payable to partner u/s 40(A) is per partner & not renumeration of all prtners?
19 November 2011
its the total remuneration of all the partners of the firm
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 November 2011
are u sure because if it total renumeration then if there are 5 partners then will they take minimum renumeration of 30000 p.a?(If profit is less than 300000)
23 November 2011
yes surely it is the total remuneration nd it is provided to working partners of the firm..........there is no criteria of minimum remuneration its all about allowance of remuneration for the purpose of calculation of book profits for taxability
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