https://www.taxtmi.com/acts?id=50643 The substituted provision prescribes a method of computing a member's share in the income or loss of an association of persons or body of individuals with determinate member shares: deduct remuneration paid to members from the association's total income, apportion the balance among members, add such remuneration to a member's apportioned profit or adjust it against an apportioned loss, allocate the computed member's share under the same heads of income as the association, and allow deduction of interest on capital borrowed by a member for investment in the association from his business income share. en-us Mon, 14 Apr 2025 17:28:21 +0530 Thu, 24 Jul 2025 11:53:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=50643 The substituted provision prescribes a method of computing a member's share in the income or loss of an association of persons or body of individuals with determinate member shares: deduct remuneration paid to members from the association's total income, apportion the balance among members, add such remuneration to a member's apportioned profit or adjust it against an apportioned loss, allocate the computed member's share under the same heads of income as the association, and allow deduction of interest on capital borrowed by a member for investment in the association from his business income share. Act-Rules F. Acts / Amendment Acts Mon, 14 Apr 2025 17:28:21 +0530 https://www.taxtmi.com/acts?id=50643