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Payment of remuneration and interest by the assessee firm to its partners - once the income was estimated at 15 of the gross commission amount by invoking the provisions of S. 144, no further deduction on account of interest and remuneration paid to the partners can be allowed as per the specific provisions of S. 184(5) - Tri

Income Tax - Payment of remuneration and interest by the assessee firm to its partners - once the income was estimated at 15 of the gross commission amount by invoking the provisions of S. 144, no further deduction on account of interest and remuneration paid to the partners can be allowed as per the specific provisions of S. 184(5) - Tri - TMI Updates - Highlights .....

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