Interest on drawings
Ajnas (Student) (844 Points)
22 February 2021
Interest on drawings is claimed as business expense in the hands of partners in their itr?
5 Replies
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 22 February 2021
No it should not be claimed
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 22 February 2021
First of all , drawing is taking out self money and you can't pay interest to yourself.
Secondly, if you don't pay interest then why TDS liability will arise.
Secondly, if you don't pay interest then why TDS liability will arise.
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