income tax on partners salary
Querist : Anonymous
i am a partner along with another person in a firm. we are drawing a salary of Rs.72000.00 each. Since the firm is in loss we are allowed only a salary of Rs.25000.00 each.
Now for paying the personal tax how much will I be liable?Do I need to pay tax on Rs.72000/Rs.47000.00?
Please help me
Querist : Anonymous
do u mean that entire 72000.00 is liable to tax? Rs.47000-00 is already being taxed in the hands of firm
Click here to login now
Similar Resolved Queries
- CG Tax On residential property
- Post Office RD Interest
- Applicable TDS for Purchase of Flat from NRI
- Eway bill for machinery reparing
- Building and other construction workers welfare cess act 1996
- Gift of mutual fund units to daughter
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Bank Accounts in Balance Sheet for ITR 3
- Form 10BD Filling
- TDS ON CASH WITHDRAWALS...
- Pan Card apply for Self help group
- Reporting of STCG on Property in ITR
- Error while filling exam form November 2026
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
