Interest on partners loan
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 February 2012
Did interest paid by firm on partners loan to the respected partner is deductible under income tax ....
12 February 2012
Yes, it is allowable as deduction for IT.
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 February 2012
if its allowable as deduction in income tax then why we call it appropriation while preparing p and l approprtn account in accountancy ...
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