Above section say that in th case of partner of a firm, his share in the total income of the firm shall be exempt from tax.
1. Whether total income of firm means income before tax or after making the provision of tax.
Total income of firm X partner's share in profit/ Total profit of the firm
It is no where stated abt the definition of total income for this purpose
2. if above is after tax, how will we provide for tax If we are maintaning books of accounts on cash basis
advice me ..what is the time limit allowed u/s 200(1)to remitt the tax deducted at source to the government during the current previous year...???
Dear Freind,
Presently I am working as a accountant.
but I can not finalazation balace sheet.I want to learn that how can i finalazation of balance sheet.i want to know all point which is necessary for finalization of balance sheet
my id shyamsharmajpr@yahoo.co.in
shyamsharmajpr@gmail.com
Thanks
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Share of Profit which is exempt u/s 10 (2A)