interst u/s 40 (b)
This query is : Resolved
02 September 2008
IN A PARTNERSHIP FIRM ONE OF THE PARTNER'S IS A KARTHA(IN REPRESENTATIVE CAPACITY)OF AN H.U.F. SECTION 40(b) CONTAINS CERTAIN RESTRICTIONS FOR INTEREST PAYMENT TO PARTNERS. IS THERE ANY EXCEPTION FOR INTEREST PAYMENT TO AN H.U.F PARTNER.
02 September 2008
No, the interest is payable on the amount of Capital with firm and in case capital is inducted by the partner, intt may be claimed
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