Validity of Partnership remuneration disallowed under Section 40A(2)(a) By Anand Gupta TaxGuru

Validity of Partnership remuneration disallowed under Section 40A(2)(a) Today we are going to consider problem based on provisions of Sections 40(b)(v) & 40A(2)(a) of the Income Tax Act, 1961. PROBLEM :- M/s. X & Co., a partnership firm consisting of three partners enhanced working partners salary from Rs. 25,000/- to Rs. 50,000/- per month for each partner. The increase was in accordance with […]

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