40a(2)(b)

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Manish Jain

Manish Jain (Querist)
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14 December 2012 payment to partner's son Rs. 8000/- against loan interest. its covered
u/s 40a(2)(b) ??

@VaibhavJ

@VaibhavJ (Expert)
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14 December 2012 Hi

Yes, where the assessee is a company, firm, association of persons or Hindu un-divided family; payment made to any director of the company, partner of the firm, or member of the association or family, or any relative of such director, partner or member is covered.

Thanks//Vaibhav
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