https://www.taxtmi.com/acts?id=48753 Method for computing a member's share requires deduction of any interest, salary, bonus, commission or remuneration from the association's total income, apportionment of the balance among members in their entitled proportions, and subsequent addition or adjustment of the member's remuneration against the apportioned profit or loss to determine the member's share; that share is then apportioned under the various heads of income consistent with the association's treatment, and interest on capital borrowed for investment by the member is deductible against the share chargeable under Profits and Gains of Business or Profession. en-us Fri, 14 Feb 2025 11:24:07 +0530 Thu, 20 Feb 2025 14:32:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=48753 Method for computing a member's share requires deduction of any interest, salary, bonus, commission or remuneration from the association's total income, apportionment of the balance among members in their entitled proportions, and subsequent addition or adjustment of the member's remuneration against the apportioned profit or loss to determine the member's share; that share is then apportioned under the various heads of income consistent with the association's treatment, and interest on capital borrowed for investment by the member is deductible against the share chargeable under Profits and Gains of Business or Profession. Act-Rules Bills Fri, 14 Feb 2025 11:24:07 +0530 https://www.taxtmi.com/acts?id=48753