Interest and remuneration in loss making partnersship firm
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 September 2015
Dear expert
plz let me know can i give interest and partners remuneration in loss making partnership firm. if yes how much...
plz reply
plz let me know can i give interest and partners remuneration in loss making partnership firm. if yes how much...
plz reply
06 September 2015
Yes you can very well give the same.
So far as deductability of the same is concerned under Income Tax Act, you need to refer to section 40 (b)
So far as deductability of the same is concerned under Income Tax Act, you need to refer to section 40 (b)
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