Ram & Company constituted by 2 partners sharing profits & loss equally declared net loss of ₹20,000 after charge of salary of ₹10,000 p.m. paid to each of the working partners as authorized by the deed during the

Ram & Company constituted by 2 partners sharing profits & loss equally declared net loss of ₹20,000 after charge of salary of ₹10,000 p.m. paid to each of the working partners as authorized by the deed during the previous year 1.4.2019 to 31.3.2020. The amount of deduction in respect of payment of salary made to the partners while computing the income of the firm for assessment year 2020-21 will be allowed of