REMUNERATION TO PARTNERS

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( As amended upto Finance (No.2) Act, 2019 )

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A Partnership firm is allowed to pay remuneration to its partners. Such remuneration can be paid with in an overall limit specified under Section.40(b) of Income Tax Act,1961. Any payment above this limit is disallowed. This calculator enables calculation of allowable remuneration to partners.

Add: Items debited to Profit & Loss A/c

S.No Name of Partner Capital amount Amount of Interest
1
TOTAL

Advisory: Information relates to the law prevailing in the year of publication/ as indicated . Viewers are advised to ascertain the correct position/prevailing law before relying upon any document.

Disclaimer: The above calculator is only to enable public to have a quick and an easy access to basic tax calculation and does not purport to give correct tax calculation in all circumstances. It is advised that for filing of returns the exact calculation may be made as per the provisions contained in the relevant Acts, Rules etc