Partnership and individual return of p
This query is : Resolved
05 January 2015
interest on capital, remuneration, salary of partners where it should be taxable.
05 January 2015
salary to partners is exewmpted u/s 10(2).
while others are taxable as income from business or profession.
while others are taxable as income from business or profession.
11 January 2015
Two different replies on similar queries.
See replies at link given below:
https://www.caclubindia.com/experts/partnership-firm-and-partners-1959384.asp#.VLHfFiuUfUs
Salary to partner is not exempted. Share of profit to Partner in Firm is exempted that too u/s 10(2A) and not Section 10(2).
See replies at link given below:
https://www.caclubindia.com/experts/partnership-firm-and-partners-1959384.asp#.VLHfFiuUfUs
Salary to partner is not exempted. Share of profit to Partner in Firm is exempted that too u/s 10(2A) and not Section 10(2).
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