https://www.taxtmi.com/article/detailed?id=1247 The High Court held that deduction for remuneration to a working partner is allowable where the partnership deed authorises such remuneration and it does not exceed statutory limits; an administrative circular imposing a requirement that the deed fix the amount or prescribe a method of quantification exceeds the statute and is invalid. A clause stating remuneration will be as per the statute is sufficient to authorise deductible payments. en-us Wed, 13 Apr 2011 23:42:38 +0530 Thu, 14 Apr 2011 00:00:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=1247 The High Court held that deduction for remuneration to a working partner is allowable where the partnership deed authorises such remuneration and it does not exceed statutory limits; an administrative circular imposing a requirement that the deed fix the amount or prescribe a method of quantification exceeds the statute and is invalid. A clause stating remuneration will be as per the statute is sufficient to authorise deductible payments. Articles Income Tax Wed, 13 Apr 2011 23:42:38 +0530 https://www.taxtmi.com/article/detailed?id=1247