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Drawings

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(Querist)
04 January 2017 Hi,

Whether drawings by a partner from the partnership firm is taxable in the income of partner.

Whether it is treated as exempt income.
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Ruchi

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Ruchi (Expert)
04 January 2017 Drawings is not Income. It is hence not taxable.
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Amol S Joglekar

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Amol S Joglekar (Expert)
04 January 2017 Drawings is not taxable.



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Gokul Sharma

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Gokul Sharma (Expert)
04 January 2017 Drawing will Decrease the investment in firm account
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Sandeep Dharar

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Sandeep Dharar (Expert)
04 January 2017 Drawings is not an income, hence not taxable. Only interest received on capital(if any) will b taxed in hands of the partner. And Salary also (if any)

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