Interest and Remuneration
Saberali Syed (5 Points)
24 July 2018
partners interest and remuneration is allows in income tax or not for the year 2017-18 in ITR 5
1 Replies
CA Naveen Chand
(Chartered Accountant)
(12729 Points)
Replied 24 July 2018
Remuneration To partners under section 40(b) As per Section 40(b) of income tax act any interest,salary, bonus, commission or remuneration paid topartners by the partnership firm are allowed to be deducted as an expenses subject to such conditions mentioned in the income tax act.
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