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Interest to partner in a partnership firm

This query is : Resolved 
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(Querist)
14 August 2013 sir,
please say whether the interest paid to a partner(who is a relative) in the business is considered in the 40A(2b) payments or not.please send the answer at the earliest
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
14 August 2013 Yes interest to partner is covered under Section 40A(2) since partner is a related person for the purpose of Section 40A(2).

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