Head of income
This query is : Resolved
31 January 2017
If a Partner get profit from his partnership frim then, in which head he has to file the returns, income from salary or income business.
Thanking you
Thanking you
31 January 2017
Profit from Partnership firm is fully exempted in the hands of partner u/s 10(2A). The profits are taxable in the hands of Firm.
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31 January 2017
In case salary and interest on capital is received from the firm, it is taxable in the hands of the partner under business income head.
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