What items are disallowed as deduction in computation of firm's income from business or profession under Section 40(b)?

Section 40(b) of the Income Tax Act in India deals with the disallowance of certain items as deductions in the computation of a firm's income from business or profession. This section outlines specific provisions regarding the payment of interest, salary, bonus, commission, or remuneration to partners of a firm. It aims to ensure that payments to partners are reasonable and genuine expenses incurred for business purposes. Here are the items disallowed as deductions under Section 40(b):

1. Interest, Salary, Bonus, Commission, or Remuneration to Partners:

• Under Section 40(b), any interest, salary, bonus, commission, or remuneration paid or payable to any partner of a firm is disallowed as a deduction in the computation of the firm's income from business or profession.
• This disallowance applies to both current and past ___ _______ ________ _______ ____ ___ __________ ____ _________ ________ _________ _______.
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