Income from firm
This query is : Resolved
21 March 2014
The Firm has only Agriculture Income. Partner receive the income from firm.
then, In the hands of the partner the income from firm is exempt as partner receive from firm or not ??
or
Partner showing as income under agriculture income in his return??
then, In the hands of the partner the income from firm is exempt as partner receive from firm or not ??
or
Partner showing as income under agriculture income in his return??
21 March 2014
Income received from Firm AOB BOI r fully exempted income..
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21 March 2014
partner has also another income then also the same effect ???
22 March 2014
Share of profit of a partner from a firm engaged in agricultural operations is "agricultural income" in the hands of the partner.
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