Taxation of Partnership Firms – Remuneration to the Partners for the FY 2009-10, AY 2010-11
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Pre – Budget |
Post Budget |
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Book Profit |
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Professional Firm |
Other Firm |
Remuneration as a % of Book Profits |
Book Profit |
Remuneration as a % of Book Profits |
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On the first Rs. 1 lakh or in case of a loss |
On the first Rs. 75,000 or in case of a loss |
Rs. 50,000 or 90% whichever is higher |
On the first Rs. 300,000 or in case of a loss |
Rs. 1,50,000 or 90% whichever is higher |
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On the next Rs. 1 lakh |
On the next Rs. 75,000 |
60% |
On the balance |
60% |
|
On the balance |
On the balance |
40% |
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(2 votes, average: 4.00 out of 5)
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can a pvt ltd co get remuneration if the said company is partner in a partnership firm
The main feature of remuneration is for putting the effort. As partnership firm is not a person or has no sepeate legal entity, i think the firm cannot claim remuneration from the company
i want to know the partners remuneration in the partnership firm with the interest and please give me the information about the computation of remuneration of partners
you can clailm 18% interest on capital balance and thereafter you can claim remuneartion if any further doubts you can call me on 9246203107 CA