Partnership interest on capital
This query is : Resolved
Quick Summary
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
Like one at 12%
Another at 6%
The deed says int on capital is paid as per provisons of income tax act
CA R SEETHARAMAN
(Expert)
31 May 2021
Yes, it's allowed, as it's within 12% allowed under income tax.
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)
Dhirajlal Rambhia
(Expert)
02 October 2021
How can the rate of interest be different to different partners for same AY?
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