The Chennai bench of the Income Tax Appellate Tribunal ( ITAT ) has held that a partners’ remuneration from the Firm shall be subject to the application of presumptive interest rate under section 44AD of the Income Tax Act. The assessee received remuneration and interest from partnership firms namely M/s. Kumbakonam Jewellers, M/s. ANS Gupta […]
The post Presumptive Interest Rate u/s 44D applicable to Partners Remuneration from Firm: ITAT [Read Order] appeared first on Taxscan | Simplifying Tax Laws.
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