Cash Drawings by Partner of Partnership Firm

This query is : Resolved 

24 June 2024 Can a partner of Partnership Firm make Drawings in cash or prefer banking channels? Salary to partner and interest on partner's capital is credited to Partner' s Capital account.
Is there any applicability of Section 40A(3) or 269ST of Income Tax Act in this case, if cash drawings are made?

24 June 2024 269ST applicable draw within limit.



You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries