cash drawings
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 February 2015
Sir,
is cash drawings made by partners exempted in hands of both partners and the firm??
if not is there an limit to the amount of drawings in cash?? so that it can be exempted in at least one`s hands??
Thanks in advance
is cash drawings made by partners exempted in hands of both partners and the firm??
if not is there an limit to the amount of drawings in cash?? so that it can be exempted in at least one`s hands??
Thanks in advance
CA Ajeet Patel
(Expert)
28 February 2015
no such exemption in income tax.
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