https://www.taxtmi.com/forum/issue?id=5400 If a partnership deed authorises interest on partners' capital but the firm pays or provides interest to only some partners, the assessing officer can treat interest as accrued to all partners and assess non recipient partners on that income; since the firm will not claim a deduction for interest not allowed as an expense, this may create adverse tax consequences including double taxation due to income being assessed in partners' hands without corresponding firm deductions. en-us Mon, 11 Mar 2013 16:20:57 +0530 Thu, 23 Jan 2025 15:57:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=5400 If a partnership deed authorises interest on partners' capital but the firm pays or provides interest to only some partners, the assessing officer can treat interest as accrued to all partners and assess non recipient partners on that income; since the firm will not claim a deduction for interest not allowed as an expense, this may create adverse tax consequences including double taxation due to income being assessed in partners' hands without corresponding firm deductions. Discussion-Forum Income Tax Mon, 11 Mar 2013 16:20:57 +0530 https://www.taxtmi.com/forum/issue?id=5400