Deduction of interest and salary paid to partners u/s 40b (IV) ...

October 23, 2015

Case Laws Income Tax AT

Deduction of interest and salary paid to partners u/s 40b (IV) and 40 b(V) - order u/s 144 - The provisions of section 184(5) of the Act is very clear and according to which no further deduction can be allowed by way of any payment of interest, salary, bonus, commission or remuneration, by whatever name called, made to any partner of such firm - AT

View Source

← Previous Next →

Deduction of interest and salary paid to partners u/s 40b (IV) ...

October 23, 2015

Case Laws Income Tax AT

You may also like:

Disallowance of partners’ salary from undisclosed income - deduction allowed - AT

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...

Estimation of income - interest and salary paid to partners - The AO made the assessment by estimating the income of the assessee by rejecting the books of account by...

The interest income cannot notionally be excluded for the purpose of determining the allowable deduction of remuneration paid to the partners under Section 40b - AT

Additions (Benefit) u/s 28(iv) - Expenditure incurred by the HO for salary paid to the expatriate employees for rendering services to PE - The tribunal upheld the...

Disallowance of salary and interest paid to the partners - it is not a case where the assessment is made by the AO u/s.144 of the Act. It is a case where assessment...

Assessee employed by Indian entity but sent on long-term international assignment to Singapore. Salary received in India for administrative reasons, but employment...

Deduction u/s 40(b) - disallowance on account of interest paid to partners and on account of salary paid to partners - In the instant case, instead of allowing the...

Interest paid to its partners - section 36(1)(iii) is not at all applicable for the purposes of computation of interest to partners under section 40(b) - The interest...

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...

Claim of interest paid to partners as deduction - interest on outstanding amount of remuneration - The deduction of interest paid can only be permitted if the assessee...

Deduction of expenditure u/s 40(b) of salary and interest to partners - estimate of net profit rate of 2% shall be deemed to take into consideration all allowable...

Allowability of the interest paid to the partner by the assessee firm calculating on the opening balance of the capital account of the partner without considering the...

Interest claimed on partners' capital contribution made to chit funds and interest claimed on payment to retired partners' outstanding balance - claim of deduction from...

Computation of aggregate turnover for the purpose of GST registration - Interest income, though exempted, are to be included in the aggregate turnover - Partner’s...

Quick Updates: