40b calculation
This query is : Resolved
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
1,Interest income from firm's bank FD
2,Interest income from firm's Kuri FD
3,Interest on firm's Income tax refund
07 July 2016
The interest mentioned above form part of profit.
Message likes :
1 times
07 July 2016
THAT IT IS TO MEAN THAT THESE ARE BUSINESS INCOME AND REMUNERATION AND INTEREST WITHIN THE LIMIT OF SECTION 40(b)
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- STCG....................................................
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- TAN for Partnership
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Sales return eway bill
- Specified Profession
- GST ON DAMAGED GOODS
- Taxation on LTCG for property sold after 24JUL2024
- Last year TDS Claim
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- Free lancer income
- Long Term Service award taxability in hands of company
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
