A partnership firm has two source of income, interest on loans advanced and commission for helping procuring loans to clients.
What would be tax treatment for such Firms??
Whether normal deduction in respect of salary and interest to partners u/s. 40(b) shall be allowed??
Respected Experts,
An employee got the following amount after resigned :-
1) Salary : 20250/-
2) Gratuity : 101250/- (for 6 years)
3) Leave encashment : 18680 (Balance EL)
4) PF share of Employer during the f.y. : 18900/-
Should amount of Sr. no. 2, 3 & 4 added in salary component while filling ITR for a.y. 2018-19? How & where I show the above received amount? If these figures are exempt either I show in ITR or not.
Please Experts, its my humble request, I am very confused, Pleaseeeeeeeeeeeee help me.
Rakesh Sharma
Hi
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Dear Experts,
Pls clarify my following doubt relate to sec 269ST....1) can a person pay the amount of 4 Lakh through 2 cheque of two two lakh to single person... 2) can we deposite the cash more then 3 lakh in our bank account in single day....3) can we receive cash of 4 lakh in single day from two different person...4) can we receive the cheque of more then 3 lakh from one person?
Thanks & Regards
Mukesh Gupta
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Tax treatment of commission and interest income for firms