16 April 2011
can we make any payment to partners other than the Interest and remuneration? For example, can we make sales commission to the partner or Consultancy fees in some technical matter?
16 April 2011
Can pay commission or consultancy fee to working partners if the partnership deed permits such payment. However,such payments has to be considered for calculating the remuneration under section 40(b) of the Income tax Act,1961.
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