13 October 2009
any commission, brokerage, remuneration, salary & interst paid to partners are disallowed u/s 40(b)and any excess paid it will be taxable in the hands of firm
my question is the same amount which will be disallowed in the hands of firm will be taxable in the hands of assessee...?
if it is taxable in the hands of assessee, already tax will be discharge in the hands of firm. so double taxation....
CAclubindia
