Rental income
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 May 2013
Can We deduct interest paid to partners from rental income of the Partnership Firm?
04 May 2013
Remunaration & int. u/s. 40 is not allowable to deduct from rental income in hands of firm.
14 June 2013
Yes I agree with the expert. It can only be deducted on certain percentage basis out of business income only as the same is based on turnover
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