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40b calculation

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(Querist)
07 July 2016 In the calclation of Partners remuneration under 40b,how to treat the following ?
1,Interest income from firm's bank FD
2,Interest income from firm's Kuri FD
3,Interest on firm's Income tax refund
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Amol S Joglekar

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Amol S Joglekar (Expert)
07 July 2016 The interest mentioned above form part of profit.
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Soumitra Basu

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Soumitra Basu (Expert)
07 July 2016 THAT IT IS TO MEAN THAT THESE ARE BUSINESS INCOME AND REMUNERATION AND INTEREST WITHIN THE LIMIT OF SECTION 40(b)
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