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interest on partners capital, Income Tax |
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interest on partners capital |
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What are the provisions for this under income tax act under sec 40 b
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And also for salary to partners under this sec
The partnership deed should have clause for payment of interest on partners capital. The interest can be paid maximum @ 12@. Partnership can authorize interest payment @ more than 12% but it will be restricted to 12%. Page: 1 Old Query - New Comments are closed. |
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