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interest and remuneration to working partners??
in my clients business,there are 2 working partners,the firm under loss,the max remuneration allowable is 150,000,but my question is whether this 150,000 includes the interest on their respective current account (opening capital) in balancesheet?
Replies (3)
Interest on capital is not include
Interest on Capital is not calculated in Remuneration...
interest on capital is taxable as business head or income from other sources head in hands of partner
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