https://www.taxtmi.com/acts?id=50870 Section 67A prescribes that, where members of an association of persons or body of individuals have determinate shares, any interest, salary, bonus, commission or remuneration paid to a member in respect of the previous year shall be deducted from the association's total income and the balance apportioned among members; if the apportioned amount to a member is a profit the remuneration is added to that amount, if a loss the remuneration is adjusted against it. The computed share is apportioned under the various heads as determined for the association, and interest on capital borrowed for investing in the association is deductible against the member's business income share. en-us Wed, 16 Apr 2025 16:18:36 +0530 Thu, 17 Apr 2025 13:12:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=50870 Section 67A prescribes that, where members of an association of persons or body of individuals have determinate shares, any interest, salary, bonus, commission or remuneration paid to a member in respect of the previous year shall be deducted from the association's total income and the balance apportioned among members; if the apportioned amount to a member is a profit the remuneration is added to that amount, if a loss the remuneration is adjusted against it. The computed share is apportioned under the various heads as determined for the association, and interest on capital borrowed for investing in the association is deductible against the member's business income share. Act-Rules F. Acts / Amendment Acts Wed, 16 Apr 2025 16:18:36 +0530 https://www.taxtmi.com/acts?id=50870