Profit of a partnership firm is ₹4,00,000 after charging interest on capital @20% of its total capital of ₹8,00,000. How much remuneration is allowable under section 40(b) to its partners?

CS Executive · Tax Laws and Practice · PYQS · December 2013
Profit of a partnership firm is ₹4,00,000 after charging interest on capital @20% of its total capital of ₹8,00,000. How much remuneration is allowable under section 40(b) to its partners?

Topics: Income Tax Act, 1961

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