Tag Archives: Tax Free Income

Treatment of interest paid on partner’s capital when used for Tax free Income

By | October 13, 2016

Treatment of interest paid on partner’s capital The Pune Bench of the Income-tax Appellate Tribunal held that interest paid with respect to a partner’s capital is not an “expenditure” but is an amount in the nature of a deduction under section 40(b) of the Income-tax Act, 1961. The case also involved an investment in mutual… Read More »