tax caliculation of partners
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 February 2011
what is the tax rates of partners of firm & how to caliculate the tax of partner
07 February 2011
Share income from partnership firm is exempt u/s 10(2A).
Remuneration and interest on capital of partners are liable to be taxed under the head ' income from business / profession'. Tax is calculated under graded rates.
Remuneration and interest on capital of partners are liable to be taxed under the head ' income from business / profession'. Tax is calculated under graded rates.
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