Interest on capital received by partner are taxable under
business head or other sources head in partner IT return
Menu
Interest on Capital
Replies (3)
Interest received on capital is taxable in the hands of the partner. That means that interest is taxable under the head Profits or Gains of Business or Profession. Such interest shall form part of the total income of the partner and taxable at normal slab rates.
Recent Topic
- Section 194DA
- CPA for US tax
- LTCG on unlisted foreign shares acquired in inheri
- SBI Funds Management IPO Allotment on July 17: Lis
- PF Final settlement shown in Salary Form 16 FY 26-
- ITR3 online utility: Part B TTI is populating fiel
- Sale of rural agriculture land
- How to show Capital Gain on gifted property
- TIS Glitch Alert : inflated summary
- IT returns of partners
Related Topics
CAclubindia
