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Interest on partner loan

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(Querist)
17 September 2014 Hello,

Sir what is rate of interest on loan to partner(in partnership firm) as per income tax act?

Is it allowable if it is not mention in partnership deed?
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
18 September 2014 there is no restriction on loan to partner.
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
18 September 2014 restriction is in relation to int on capital not loan under income tax act




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