computation of partners
This query is : Resolved
26 September 2009
How partner in his individual return shows the income received from firm as
Salary and
share of profit from firm
whether it is to be taken as salary or business profession?
Thanks
Salary and
share of profit from firm
whether it is to be taken as salary or business profession?
Thanks
26 September 2009
It would no be salary.
He has to file a return for B & P.
And his salary will be like fixed remuneration.
He has to file a return for B & P.
And his salary will be like fixed remuneration.
26 September 2009
agree
26 September 2009
Share of profit received from partnership firm should be shown as exempt income u/s 10(2A)..
and remuneration received from the partnership firm should be shown as business income....
and remuneration received from the partnership firm should be shown as business income....
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