Cash Drawings by Partner of Partnership Firm
This query is : Resolved
CA Anmol Grover
(Querist)
24 June 2024
Can a partner of Partnership Firm make Drawings in cash or prefer banking channels? Salary to partner and interest on partner's capital is credited to Partner' s Capital account.
Is there any applicability of Section 40A(3) or 269ST of Income Tax Act in this case, if cash drawings are made?
Is there any applicability of Section 40A(3) or 269ST of Income Tax Act in this case, if cash drawings are made?
CA R SEETHARAMAN
(Expert)
24 June 2024
269ST applicable draw within limit.
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