On first 3 lakhs of book profit or in case of loss – ₹ 1, 50,000 or 90% of book profits (whichever is higher).
On the balance book profit 60% of book profit.
Any payment of interest to a partner of a partnership firm is allowed as a deduction while computing the profits
and gains of the partnership firm for income tax purposes
REMUNERATION TO PARTNERS
S.No.
Name of Partner
Rate
Amount of Interest
Action
1
1
remove
Advisory:
Information relates to the law prevailing in the year of publication/ as
indicated. Viewers are advised
to ascertain the correct position/prevailing law before relying upon any document.
Disclaimer:
The above calculator is only to enable public to have a quick and an easy access to basic tax
calculation and does not purport to give correct tax calculation in all circumstances. It is advised
that for filing of returns the exact calculation may be made as per the provisions contained in the
relevant Acts, Rules etc.
