Intt. On Capital of Partners
This query is : Resolved
18 March 2010
What should be the tratment of Interest Paid on capital of partner. From the Partner's point of View.
plz also specify the section
Thanks
Shammi
plz also specify the section
Thanks
Shammi
18 March 2010
Interest due/received by the partner from the firm is assessable under the head 'income from business or profession' in the hands of partner under section 28(v) of the Income tax Act,1961.
18 March 2010
agreed
18 March 2010
agreed with Mr. Warrier.
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