ur query can be solved by a similar post.
/forum/minor-partners-remuneration-43159.asp
he can get the remuneration from the firm
But it shall be taxable inthe hands of his/her parents as clubbing provisions shall apply.
"partner's remuneration is exempted then how it can be clubbed"
Originally posted by Sendhilkumar MS
Sir,
To ur comment i would like to add that partners remuneration is not exempted. Partners profit share is exempted.
To the query of Vijay Rao
Remuneration can be paid to minor . But it will not be taxable in his hands. It will be clubbed with his parents income whosoever clubs it.
thanku surbhi mam.
CAclubindia
