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Author : Anonymous
( Author )
05 March 2013
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commision income of spouse earned from a firm has to be clubbed in hands of partner ..which head of income does it fall under? ?( Ideally it shd come under business /profession) but in the solution of the institute it is given under i.f.o.s)plz expl
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Dintakurthi Tirumala
( Expert )
05 March 2013
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Yes, it comes under Income from Other sources. Any income which shall be clubbing with the assessee income shall be income from other sources. I.e adding of income for the purpose of income tax due to the applicability of clubbing provision such income should be income from other sources irrespective of nature/type or sources of or way of income earned.
OM SAI SRI SAI JAI JAI SAI
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CA Suraj Lakhotia
( Expert )
05 March 2013
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The clubbed income retains the same head under which it is earned.
If business income is to be clubbed, it will be clubbed under business head.
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Author : Anonymous
( Author )
05 March 2013
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contradictory replies..please clarify
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