remuneration received by partners
This query is : Resolved
24 September 2010
Remuneration received by partners is taxable in the hands of Partners. Now the problem is where to state the figure of remuneration in ITR 4 of partner? Please guide me.
Thanks
Thanks
24 September 2010
Show it under the head salary.
24 September 2010
Partner of a firm has to file his/her return in ITR-3. Remuneration and interest received from partnership firm has to be shown in Schedule BP of the said form.
24 September 2010
Sir what if the partner also has a proprietorship business, as seems to be the case here?
24 September 2010
Both are partly correct.
ITR - 4 needs to be filed but the income would from business only as per section 28.
U can show salary from partnerhip firm received in
Schedule BP - Computation of income from business or profession
A) From business or profession other than speculative business
23) "Any other income (including income from salary, commission, bonus and interest from firms in which an individual/ HUF/ Prop. concern is a partner) not included in profit and loss"
ITR - 4 needs to be filed but the income would from business only as per section 28.
U can show salary from partnerhip firm received in
Schedule BP - Computation of income from business or profession
A) From business or profession other than speculative business
23) "Any other income (including income from salary, commission, bonus and interest from firms in which an individual/ HUF/ Prop. concern is a partner) not included in profit and loss"
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- Stamp Paper for partnership firm change new income tax 2025
- Capital gain from sale of house property
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- Value of property in capital gain
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- TDS APPLICABILITY......
- Copyright software
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
