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Minimum and maximum rate of interest
Respected sir...please advice minimum and maximum rate of interest paid to partners on their capitals.....
Replies (3)
Quick Summary
Maximum rate is 12%p.a. There is no minimum rate prescribed.
For that check partnership deed, as per income maximum allowed rate is 12%
Under the Income Tax Act, the maximum interest at the rate of 12% p.a. is allowed. Any amount paid exceeding the effective rate is disallowed as ...
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