Interest from Fixed Deposits Not Part of Business Income for Partner Remuneration u/s 40(b) of Income Tax Act.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Determination of remuneration to partners u/s 40(b) - Interest income earned on the FDR of surplus funds cannot be considered as part of the income of the business - HC....