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Joint venture

This query is : Resolved 
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(Querist)
27 August 2013 Sir
in financial year 12-13 my company perform a joint venture project. Joint venture also has own PAN. who will be liable to pay tax Joint venture or partner of joint venture?

Regard's
Neeraj Sinha
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
29 August 2013 Since the joint venture is a separate entity and has a separate PAN, the joint venture itself is liable to pay tax on the income earned by it.

The co-venturers are not liable to pay tax on behalf of the joint venture.
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