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Interest to partner

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(Querist)
22 September 2019 wheather it is mandatory to pay interest to all partner or we can pay interest to one and not to others
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Shrikant Toshniwal

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Shrikant Toshniwal (Expert)
22 September 2019 AS PER PARTNER SHIP DEED U HAVE TO GIVE
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CS RAJESH C.CHOUDHARY

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CS RAJESH C.CHOUDHARY (Expert)
23 September 2019 As per section 40(b) only that salary, remuneration, bonus, commission etc payable to working partners or any payment of interest payable to any partner will be allowed as deduction only if it is authorized by the partnership deed. If the partnership deed does not contain such provisions then the deductions may be disallowed if the same is claimed by the partnership firm.
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