Partners remuneration and interest
This query is : Resolved
07 October 2011
For a Partnership firm can we claim Partner remuneration and interest in section "Any other amount allowable as deduction".
07 October 2011
No...
It has to be claimed after applying conditions of Sec 40(b) & 40(ba) under seperate heads,
"Remuneration to partners" & "Interest to partners" respectively.
It has to be claimed after applying conditions of Sec 40(b) & 40(ba) under seperate heads,
"Remuneration to partners" & "Interest to partners" respectively.
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