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Interest and remuneration paid monthly

This query is : Resolved 

Interest and remuneration paid monthly to partners allowed in I.t. act by a partnership firm.

There is no restriction on monthly payouts under the IT Act. Please convey your like if the reply was helpful. Regards CA. Raj Doshi

But it should be in accordance with the instrument of partnership subject to the limits of section 40(b) of the Income tax Act,1961.

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