DEAR ALL ,CAN U EXPLAIN SECTION 40(b) .
2 Replies
CA. ANKUR JAIN
(CA.....)
(2800 Points)
Replied 23 December 2008
PLS REFER ANY BOOK YAAAAAAAAAAAARRRR.................................
CA.Aditya Malik
(CA)
(183 Points)
Replied 23 December 2008
Sec-40(b): Business Disallowance-salary/nterest etc., paid by firm to partner. Following comes under this category:
1.Commission to Partner
2. Salary to Partner
3. Payment to Partner as technical consultants fee
4. payments between firms having common partners are not covered
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