Negative intt on Capital

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  1. Devender Thakur

    Devender Thakur New Member

    If the net interest comes to be negative on capital of the partner, then is it allowable to reduce the net taxable income by the amount of negative interest or not? please guide me ...

    VAIBHAV DILIP RANE Active Member

    A loss from business or profession can be set off against all income heads other than salary.

    Since we include, Interest on Partners Capital under head Income from Business,...

    May such Negative Interest be allowed, to reduce Tax Liability,...

    * Please refer with a CA, for proper guidance.
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