Section 8 - Amendment of section 15 - Direct Tax Laws (Amendment) Act, 1987

8. Amendment of section 15. In section 15 of the Income-tax Act, the Explanation shall be numbered as Explanation 1, and after Explanation 1 as so numbered, the following Explanation shall be inserted, namely :- Explanation 2 .- Any salary, bonus, commission or remuneration, by whatever name called, due to, or received by, a partner of a firm from the firm shall not be regarded as salary for the purposes of this section. .