Dear expert..Lets say Profit is 50,00,000 every month 30 of profits is paid as partner remuneration…
Dear expert..Lets say Profit is 50,00,000 every month 30 of profits is paid as partner remuneration (Each Partner gets 4,00,000) 20% of profits is kept aside and 20% income tax is paid on it remaining amount is paid back as remuneration to partners Now is the initial remuneration of 4,00,000 taxable in the hands of the partner?
