Interest on partners capital for asst year 10-11 & 11-12
This query is : Resolved
25 March 2012
hello,
can some one pls advise me how much interest on partners capital is tax free or taxable ? under which head we have show in income tax return
can some one pls advise me how much interest on partners capital is tax free or taxable ? under which head we have show in income tax return
25 March 2012
Interest on partner's capital is wholly taxable in the hands of the partners under the head Income from Business or Profession.
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