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Interest on capital and partners remuneration
Could you please explain interest on capital and partners remuneration with an example...
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If an agreement is there on both its good. Interest rate normally based on bank interest or the partners wishes to insist.
for example, if 1 lac paid which attracts interest calculation to be made & TDS to be deducted accordingly. So also for remuneration also to be paid every month as per terms and necessary TDS to be deducted & paid.
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