Home Highlights February 2019 Year 2019 This

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1. Disallowance on account of remuneration paid to partners of the firm - The partnership deed has specified that the amount of remuneration allowable u/s 40(b)(v) would be...

2. Determination of remuneration paid to partner - working / retiring partner - the firm has incorporated the terms of section 40(b), providing for the maximum amount of...

3. Remuneration paid to partners - remuneration is not specified - manner of computing the remuneration is not specified - remuneration payable is left to future mutual...

4. Disallowance of remuneration/ commission - drawing remuneration from partnership firms - there is no law (Income tax & Partnership Act) which prohibits a person to work...

5. Revision u/s 263 by CIT - remuneration paid to its working partners - such partners of the assessee firm is engaged in full time teaching profession - there is no bar...

6. Disallowance of remuneration paid by the assessee to its Working Partner u/s 40A(3) - Cash payment of expenditure in excess of specified limit - Scope of separate...

7. Partner’s remuneration u/s 40(b) - The manner of computing the remuneration is not specified - the remuneration payable is left to future mutual agreement between the...

8. Disallowance of remuneration paid to the partners of the assessee firm - Once the remuneration paid to the partners is in accordance of the provisions of Section...

9. Remuneration to partners - where the partner is working partners and remuneration provided is within the limits prescribed u/s 40(b)(v), AO cannot disallow any part of...

10. Disallowance u/s.40(b) - remuneration paid to partners - requirement of discloser in Clause 21(c) of Form 3CD - Although the details referred to in Clause 21(c) does...

11. Disallowance treating remuneration paid to the partners under the provisions of section 40(b)(v) as excessive - A.O was not justified in working out the claim of...

12. TDS u/s 192 - commission paid to partner - considering the provisions of Explanation 2 to Section 15 of the Act which includes salary, bonus, commission or remuneration...

13. Addition u/s. 40(b)(v) - remuneration paid to partners - The supplementary partnership deed operates retrospectively, the calculation of the remuneration paid to...

14. Deduction of remuneration paid to the partners u/s 40(b) - The interest income cannot be notionally be excluded for the purpose of determining the allowable of deduction...

15. Remuneration to partners has to be computed on the basis of the book profit declared by the assessee subject to the conditions prescribed u/s. 40(b) of the Act -...