banner_ad

40a(2) of income tax act

This query is : Resolved 
Profile Image

Profile Image

(Querist)
23 August 2011 Dear Expert,

Payments made by Partnership Firm to partners as Interest on capital and remuneration.

Will it cover u/s 40A(2)
Profile Image

CA PARAS BAFNA

Profile Image

CA PARAS BAFNA (Expert)
23 August 2011 Yes, these items are also to be reported in Tax Audit Report as the partners are covered U/s 40A(2).
Profile Image

Bhaskaran Chackrapani Warrier

Profile Image

Bhaskaran Chackrapani Warrier (Expert)
23 August 2011 It is covered under section 40(b) and not under 40A(2) of the Income tax Act,1961.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details