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Rate of intt. on capital of partners (Income Tax)

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This query is : Resolved

( Querist )
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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