Tax Planning Tips u/s 40(b) Tax Saving Tips u/s 40(b) Section 40(b) places a restriction on firm on the payment of remuneration, interest, bonus, commission or interest to its partners. Read: Section 40(b) in Detail: Remuneration & Interest to Partners by Firm In some cases it is not recommended to pay salary or interest to […]
Section 40(b) in Detail: Remuneration & Interest to Partners by Firm
Section 40(b): Payment of Interest, Salary, Bonus, Commission or Remuneration made by Firm to its Partners. Section 40(b) laid down the rules for the allowance of payment made by the firm to its partners as salary, remuneration, bonus, commission and interest. The deductions regarding salary to partners and any payment of interest to partners should […]