When an LLP has book profit of ₹6 lakh, the maximum amount allowable towards the salary of working partners would be

CS Executive · Tax Laws and Practice · PYQS · December 2015
When an LLP has book profit of ₹6 lakh, the maximum amount allowable towards the salary of working partners would be
(A) ₹4,50,000
(B) ₹6,00,000
(C) ₹3,00,000
(D) Nil.

Answer & Explanation:

Correct Answer: Option (A)

Official answer key: (A).

Topics: Income Tax Act, 1961

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