Clubbing of Income of Proprietor ship and Partnership
This query is : Resolved
22 April 2008
Dear sirs,
one of My client is Having service tax reg.with Business auxilary service Cat. and he is paying service tax as a propretorship base besides that he is getting Rental Income Below 10 Lakhs whether he has to pay service tax on that Rental income or Not and now he is going to convert his Business in Partner Ship firm and in that firm he is one of the partner so now what ever his Rental Income is less than 10 Lakhs only, but I hered if one preson having income under proprietor ship and same person is having Partner ship business in service tax Law they will club the both income. whether it is correct are not, pl. give me a detailed clarification. if he is converted his business into Partner ship he has to pay the service tax on what ever rental Income is less than 10 Lakhs or NOT
one of My client is Having service tax reg.with Business auxilary service Cat. and he is paying service tax as a propretorship base besides that he is getting Rental Income Below 10 Lakhs whether he has to pay service tax on that Rental income or Not and now he is going to convert his Business in Partner Ship firm and in that firm he is one of the partner so now what ever his Rental Income is less than 10 Lakhs only, but I hered if one preson having income under proprietor ship and same person is having Partner ship business in service tax Law they will club the both income. whether it is correct are not, pl. give me a detailed clarification. if he is converted his business into Partner ship he has to pay the service tax on what ever rental Income is less than 10 Lakhs or NOT
23 April 2008
in the first case, he has to collect ST.
However, after conversion into p frim, two different legal entities will be there and hence clubbing provisions are not attracted
However, after conversion into p frim, two different legal entities will be there and hence clubbing provisions are not attracted
25 April 2008
1give me Clear Answer to me he has to pay tax or not suppose if he is convert his business in Partner ship firm
2. then he need to pay Tax on what ever rental income is less than 10 Lkhs or Not
2. then he need to pay Tax on what ever rental income is less than 10 Lkhs or Not
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Accounting treatment of AMC alongwith the purchase of Laptop
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Taxation of crypto futures in India Fy 2026- 2027
- EPF ECR NEW RULES Sep 17th 2026
- Issuing of delivery challan by seller of goods
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
