08 July 2010
Is it compulsary for all partnership firms to pay remuneration as per section 40(b)to its partners even if there is no business in the particular financial year?
09 July 2010
If partnership deed provide so and there is no business in current year then also as per section 40(b) Rs. 150000 remuneration is compulsory to be paid?
09 July 2010
It depends upon the provisions contained in the deed. If deed provides "must be" then it must otherwise as per the discretion of the partners.