Payment of remuneration and interest by the assessee firm to its ...

Case Laws Income Tax

September 16, 2015

Payment of remuneration and interest by the assessee firm to its partners - once the income was estimated at 15 of the gross commission amount by invoking the provisions of S. 144, no further deduction on account of interest and remuneration paid to the partners can be allowed as per the specific provisions of S. 184(5) - AT

View Source

← Previous Next →

Payment of remuneration and interest by the assessee firm to its ...

Case Laws Income Tax

September 16, 2015

You may also like:

Characterization of interest income from the partnership firm as business income - Presumptive income @8% u/s 44AD - Interest and salary received by the assessee from...

TDS u/s 192 - commission paid to partner - considering the provisions of Explanation 2 to Section 15 of the Act which includes salary, bonus, commission or remuneration...

Rejection of book result u/s 145(3) - estimation of income - Deduction of depreciation from the estimated income - Depreciation should be allowable being statutory...

Revision u/s 264 - requirement to get accounts audited u/s 44AB - determination of turnover - inclusion of remuneration from the partnership firm in the gross receipt...

Disallowance of remuneration paid by the assessee to its Working Partner u/s 40A(3) - Cash payment of expenditure in excess of specified limit - Scope of separate...

Claim for estimating income / deemed income u/s 44AD on remuneration and interest received from firms - the intention was to help small business to comply with the...

Deduction 10AA(9) - Interest and remuneration to partners - Claim allowable on net income or gross income - In the present case, the clauses of partnership deed...

Determination of remuneration paid to partner - working / retiring partner - the firm has incorporated the terms of section 40(b), providing for the maximum amount of...

Transfer of an industrial undertaking from urban to rural area by a partnership firm qualifies for exemption u/s 54G of the Income Tax Act. The assessee, a partner in...

Disallowance of remuneration paid to the partners of the assessee firm - Once the remuneration paid to the partners is in accordance of the provisions of Section...

Disallowance of interest expenditure in the hands of partner - investment as capital in the business of the partnership firm - Absence of earning any interest income on...

Exemption of Gross Interest u/s 10(15) - exemption under section 10(15) was to be allowed on gross interest and not on the net interest - AT

Disallowance of interest u/s. 36(1)(iii) - partners of the assessee firm had over withdrawn an amount as in excess of what was brought by them in the firm - the assessee...

Taxability in the hands of partners v/s firm - transfer of capital asset by firm to partners - There is no merit in the arguments advanced by assessee, that transfer of...

Deduction u/section 80(IA)(10) r.w.s 10AA(9) - AO made the additions on the ground that, by giving deductions of interest on capital and remuneration to partner of the...

Quick Updates: