Income tax

YAGNESH HASMUKH DAVE (Querist) 09 April 2014 This query is : Resolved
THE JOINT VENTURE PARTNERSHIP CONCERN HAVING PAID INTEREST ON CAPITAL A/C INVESTED BY THE THREE AOP MEMBERS AND ALSO DEDUCTED TDS ON INT PAID ON CAPITAL. WHETHER INTEREST PAID TO PARTNERS AOP ARE ALLOWABLE AS DEDUCTION U/S 40(BA) AS THE JOINT VENTURE AGREEMENT ALLOW THE INTEREST INVESTED BY THE PARTNER IF NOT ALLOWABLE U/S 40 (BA) THEN WHETHER ALLOWABLE AS BUSINESS EXPENDITURE U/S 36 & 37 PL EXPLAIN ME BRIEFLY

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