Partners remuneration Yes, partners of a Limited Liability Partnership (LLP) can receive a salary or remuneration from the LLP, subject to the terms and conditions specified in the LLP agreement. The LLP Act, 2008 does not prohibit partners from receiving a salary. Limited Liability Partnerships (LLPs) have become increasingly popular as a business… Read More »
Difference between Income and Salary Difference between income and salary refer to all the money earned by an individual, including salaried as well as other sources of incomes such as investments, rental and business profits. To visit: https://www.incometax.gov.in Money, specifically refers to the compensation pay to an employee by their employer in exchange for their… Read More »
Direct and Indirect Expenses Direct and indirect expenses Difference DirectExpense Direct expense or income are those expenses or income that are directly related to the production or sale of goods or services. They are directly traceable to a specific product or service and can be allocated to it without any difficulty. Examples of direct expenses… Read More »