Quarry regarding partners remuneration

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

17 September 2013 Dear sir

please help me on the simple topic of distributing the remuneration to the partner. I just know that there is change in the slabs for calculating the allowable remuneration but the problem is that i don't know how to provide the remuneration.

please help me september is going on.....

Ajay Mishra

Ajay Mishra (Expert)

17 September 2013 Check the partnership agreement. Such agreement will give you answer about profit and remuneration details.

Querist : Anonymous

Querist : Anonymous (Querist)

17 September 2013 Dear sir,

but i want the allowable remuneration under income tax act applicable for A Y 2013-14

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)

19 September 2013 If there is no provision for giving remuneration to the partners then you cannot give it to them. In that case they are entitled to share the profit only. In the partnership Deed itself it is mentioned which partner will get and how much can be distributed as remuneration or salary to the partners.

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