Interest to partner in a partnership firm
This query is : Resolved
14 August 2013
sir,
please say whether the interest paid to a partner(who is a relative) in the business is considered in the 40A(2b) payments or not.please send the answer at the earliest
please say whether the interest paid to a partner(who is a relative) in the business is considered in the 40A(2b) payments or not.please send the answer at the earliest
14 August 2013
Yes interest to partner is covered under Section 40A(2) since partner is a related person for the purpose of Section 40A(2).
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