Hi
Is interest received on capital taxable in the hands of partner? If yes, then there is a derivative loss in the same year so can both be set -off? Like interest income against derivative loss?
1 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(183048 Points)
Replied 20 February 2023
Yes taxable.
Both are assessed under PGBP head, and hence the loss can be set off with the partner's interest income from firm.
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