alleryStart learning →Under 44AE, partner pay of a firm is deducted within limits of which section?
ASection 40(b)
BSection 36(1)
CSection 40A(2)
DSection 37(1)
Answer & Solution
Correct answer: A. Section 40(b)
The proviso to section 44AE(3) lets a firm deduct partners' salary and interest subject to the limits in section 40(b).
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