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Income Tax - Highlights / Catch Notes

Home Highlights April 2019 Year 2019 This

Disallowance of remuneration/ commission - drawing remuneration ...


Clarification: No legal ban on earning from multiple partnerships; Section 40(b) requires remuneration for working partners only.

April 16, 2019

Case Laws     Income Tax     AT

Disallowance of remuneration/ commission - drawing remuneration from partnership firms - there is no law (Income tax & Partnership Act) which prohibits a person to work in more than one partnership firms and draw remuneration therefrom - All that Section 40(b) requires is that the remuneration should be paid to a working partner

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