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Remuneration & interest on capital in a firm

This query is : Resolved 

Is there any limit on the remuneration/salary taken by the partners of a firm?

Whether Interest on capital credited to capital A/cs is taxable in the hands of a partner?


As far as Limits are concerned Remuneration can be paid upto Maximum limit specified in Section 40(b) under income tax act.
And Interest on Capital and Remuneration credited in partners capital is fully taxable in hands of Partner individual returns


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