https://www.taxtmi.com/manuals?id=1137 Payments by an AOP/BOI to its members by way of interest, salary, bonus, commission or remuneration are not deductible in computing income under the head Profits and gains of business or profession. The text states a net interest rule, distinguishes personal-capacity and representative-capacity transactions, and notes that under the earlier provision the corresponding member payments are disallowed, with representative-capacity interest allowed where applicable and salary disallowed in any capacity. en-us Tue, 15 Sep 2015 11:14:00 +0530 Fri, 01 May 2026 11:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=1137 Payments by an AOP/BOI to its members by way of interest, salary, bonus, commission or remuneration are not deductible in computing income under the head Profits and gains of business or profession. The text states a net interest rule, distinguishes personal-capacity and representative-capacity transactions, and notes that under the earlier provision the corresponding member payments are disallowed, with representative-capacity interest allowed where applicable and salary disallowed in any capacity. Manuals Income Tax Tue, 15 Sep 2015 11:14:00 +0530 https://www.taxtmi.com/manuals?id=1137