Fd interest in partnership firm
This query is : Resolved
29 June 2016
We are a partnership firm having interest income ( on fds) of around 2 lacs per annum. Can we offset it against the ineterst paid to partners on their capital. We have around 5 lacs interest which we pay to partners on their capital. IF Yes is there any limits on the same?
29 June 2016
no, partners intt and remuneration will be out of business income, if you business of this then you can make adj this.
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