Remunaration to retired partner
Raju Miskin (article Asst.) (125 Points)
17 February 2017
remuneration paid to retired partner allowable for deduction u/s40b?
2 Replies
(Guest)
Remuneration is allowed only to working partners.
Remuneration must be authorised by partnership deed and according to the terms of partnership deed. Also the quantum of deduction or manner of its computation is to be mentioned in the deed. If there is not any such provision in deed then no deduction is allowed
Raju Miskin
(article Asst.)
(125 Points)
Replied 17 February 2017
we can pay remuneration to the retired partner UpTo the date of his retirement. is it allowable ?
40b is silent about this
40b is silent about this
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