11 September 2017
If I invest my money in some Partnership Firm. 1. What is the right way to show this investment in my ITR? 2. Is this money exempted from tax?
11 September 2017
1. Investment A/c (Firm Name Capital Investment)
2. No. It's your on of the income before investment. I think You ll be show it in your income details in before...
18 September 2017
If someone let say, Mr. X (Mr. X is not partner of the Partnership Firm) transfer 5 lakh to current account of my partnership firm to help to run business and my firm invest this amount in equity share and earn 20% on the given amount by Mr. X and Share the Half profit With Mr. X
1. Is the given amount by Mr. X can be recorded as Capital and Free Reserves and If not Then 2. I want to know how my firm is going to keep this record (Book Entry) 3. how to calculate the taxation in given case above
18 September 2017
He recorded as 1. Loan 2. Loans Liability & Interest 3. No more taxation... It's your expenditure. Also your CA ask the exact reason...
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