https://www.taxtmi.com/forum/issue?id=2557 Deductibility of interest on unsecured loans against remuneration from a partnership firm hinges on the payment's character. If the remuneration is treated as salary earned from personal efforts, interest lacks the necessary nexus and is not deductible. If the payment and the interest both constitute income from business or profession, the interest expense may be netted against that business income when computing taxable profit. en-us Tue, 28 Dec 2010 10:51:14 +0530 Thu, 23 Jan 2025 15:58:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=2557 Deductibility of interest on unsecured loans against remuneration from a partnership firm hinges on the payment's character. If the remuneration is treated as salary earned from personal efforts, interest lacks the necessary nexus and is not deductible. If the payment and the interest both constitute income from business or profession, the interest expense may be netted against that business income when computing taxable profit. Discussion-Forum Income Tax Tue, 28 Dec 2010 10:51:14 +0530 https://www.taxtmi.com/forum/issue?id=2557