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of <h1>Income Tax Act Section 40(ba) Disallows Deduction for Payments by AOP or BOI to Members, Including Salary and Interest.</h1> Section 40(ba) of the Income Tax Act disallows deductions for payments made by an Association of Persons (AOP) or Body of Individuals (BOI) to its members, including interest, salary, bonus, commission, or remuneration. Specifically, any interest paid to a member, minus the interest received from that member, is disallowed. However, if a member acts in an individual capacity, interest paid in a representative capacity is allowed, and vice versa. Regardless of the capacity, salary payments to members are disallowed.
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