XYZ a partnership firm is earning book profit of ₹5,00,000 during the financial year 2021-22. The firm paid Remuneration as per Partnership deed to working partner ₹4,50,000 and to non-working partner ₹90,000. Calculate
CS Executive · Tax Laws · PYQS · December 2022
XYZ a partnership firm is earning book profit of ₹5,00,000 during the financial year 2021-22. The firm paid Remuneration as per Partnership deed to working partner ₹4,50,000 and to non-working partner ₹90,000. Calculate what amount of Remuneration is disallowed to firm u/s 40(b) of Income Tax Act, 1961 for assessment year 2022-23:
Answer & Explanation:
Correct Answer: Option (C)
Official answer key: (C).
Topics: Income Tax Act, 1961
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