Rate of intt. on capital of partners

This query is : Resolved 

05 April 2012

Dear Sir,
What is the rate of Intt. on Capital of Partners.

CA Siddhartha Bhardwaj (Expert)
05 April 2012

As provided in the partnership deed.

B.Chackrapani Warrier (Expert)
05 April 2012

and there is a cap of 12% for income tax purpose as per section 40(b)(iv) of the said act.

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