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
- Clarification on Gratuity Exemption under Section
- GOODS AND SERVICE TAX - GSTR 1
- Correct ITR form
- Clarification required on Section 393 & Report
- Professional advance taxes
- Surrender pan process
- Tds on deceased's pan
- Exempt income declaration schedule EI in ITR2 (AY2
- Mold cost invoice in GST return
- WhatsApp document sharing: Client sends Aadhaar, P
Related Topics
CAclubindia
