Remuneration to partners

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Jyoti Modi (Querist)
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31 August 2011 Does remuneration & interest on capital paid also come under Sec 40A(2)(b)i.e.,payment to relatives and specified person?

MAHENDRA KUMAR BAGRECHA (Expert)
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31 August 2011 yes, we also have to show it in 3CD report.

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Bhaskaran Chackrapani Warrier (Expert)
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31 August 2011 Remuneration and interest on capital is governed by section 40(b) and not under section 40A(2)(b) of the Income tax Act,1961.

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