03 October 2015
WE TWO PARTNERSHIP FIRM & PVT LTD CO THREE ENTITY JOINT TOGETHER UNDER JOINT VENTURE AGREEMENT OF CONSTRUCTION ACTIVITY AND AS PER JOINT VENTURE AGREEMENT INT ON CAPITAL INVESTMENT BY THE PARTNERS INT @ 12% AS PRESICRIBED U/S 40 (B) OF THE I TAX ACT THE INT PAID TO AOP THREE MEMEBERS ON THIER CAPITAL AS PER JOINT VENTURE AGRREMENT ARE ALLOWABLE AS EXPNESES OF THE FIRM U/S 40 (BA) OR UNDER ANY OTHER SECTION 30 TO 38 OF THE I TAX ACT THE TDS IS DEDUCTED ON INT PAID AND PAID TO THE GOVT KINDLY EXPLAIN FULLY
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