The book profit of a partnership firm is ₹1,20,000. The actual remuneration paid to working partners is ₹3,54,000. The allowable deduction under section 40(b) towards remuneration to partners is —
CS Executive · Tax Laws and Practice · PYQS · June 2016
The book profit of a partnership firm is ₹1,20,000. The actual remuneration paid to working partners is ₹3,54,000. The allowable deduction under section 40(b) towards remuneration to partners is —
Answer & Explanation:
Correct Answer: Option (A)
Official answer key: (A).
Topics: Income Tax
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