Forums
Partner provisions in pgbp
Direct Taxation
I need an explanation to this provision in simpler words...please do help me with this
Answers (2)
Best Answer
Eg . Firm - AB Partners A & B There is another firm AC where A is a partner If loan borrowed from AC and interest has been paid to A for AC's loan then A is a partner in representative capacity ( IT IS NOT PARTNERS LOAN so there is no dissallowance if he receives that interest on behalf of AC
Abishek M
Eg . Firm - AB Partners A & B There is another firm AC where A is a partner If loan borrowed from AC and interest has been paid to A for AC's loan then A is a partner in representative capacity ( IT IS NOT PARTNERS LOAN so there is no dissallowance if he receives that interest on behalf of AC
Thank you for the simplification its really helpful. 😊
Courses
Course Guides
Offerings
CIN: U74999TG2017PTC116012 | GSTIN: 36AAECI4332C1Z0 | PAN: AAECI4332C