Salary to partners as per deed and Income Tax Act cannot be disallowed

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Salary to the partner is being regulated by the provisions of section 40(b) of the Income Tax Act. It is to be paid in accordance with the provision stipulated in the deed which should be in commensurate with the provisions of section 40(b) of the Income Tax Act. On such salary payment, provisions of section 40 A(2) cannot be invoked.

April 16, 2017 at 11:53AM

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from editor2

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