profit from partnership firm
This query is : Resolved
03 June 2010
sir , if company invested in partnership firm and profit earned during the year is it necessary to disclose it or we can show it in mis. income.
04 June 2010
Company' Share of Profit in the Partnership firm should be disclosed seperately and should not be clubbed with Misc. Income.
View of other members requested.
View of other members requested.
10 December 2010
If any company is a partner in any partnership firm and getting profit therefrom it will be it's income and need to disclosed it will not be treated as mis.income .
But a lot depend upon the memorandum of association of the company
Thanks
If any company is a partner in any partnership firm and getting profit therefrom it will be it's income and need to disclosed it will not be treated as mis.income .
But a lot depend upon the memorandum of association of the company
Thanks
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