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Partnership interest on capital

This query is : Resolved 
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(Querist)
31 May 2021 Can partners get int on capital at different rates - assume 2 partners
Like one at 12%
Another at 6%

The deed says int on capital is paid as per provisons of income tax act
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
31 May 2021 Yes, it's allowed, as it's within 12% allowed under income tax.
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KAVIRAJA ADDANGADI

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KAVIRAJA ADDANGADI (Expert)
05 June 2021 PLEASE CHECK PARTNERSHIPDEED IF IT IS ALLOWED TO PAY INTEREST AT DIFFERENT RATES AS PER INCOME TAX MAXIMUM 12% ALLOWABLE U/S 40(b)
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
02 October 2021 How can the rate of interest be different to different partners for same AY?
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