Can Interest on Capital be paid in case of Proprietorship/Partnership
Last updated at April 16, 2024 by Teachoo
Chapter 7 Business Income-Patnership
How Many Pan Card and ITR in case fo Partnership
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Courses
Free Income Tax Certification Course
- Chapter 1 Introduction
- Chapter 2 Different Heads of Income
- Chapter 3 Different ITR Forms & Due Dates
- Chapter 4 Income Tax Rates
- Chapter 5 Income from Salary & Deductions
- Chapter 6 Business Income-Proprietorship
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Chapter 7 Business Income-Patnership
- Chapter 8 Income from House Property
- Chapter 9 Income from Capital Gain
- Chapter 10 Employee on Contract
Transcript
Rule for Interest on Capital Proprietorship Proprietor Invest Capital in Business Can he take Interest on this Capital from Business Not Allowed As Proprietorship and Proprietor are Same Legal Persons) Partnership Partner Invest Capital in Business Can he Take Interest on this Capital from Business Allowed As Partnership and Partners are Different Legal Persons) Conditions Allowed in Case of Audit Case Only Allowed to both Working and Non Working Partner Max 12% interest on Allowed
