Taxability
This query is : Resolved
21 January 2014
DEAR EXPERTS,
PLEASE ADVISE US ABOUT FOLLOWING:-
IF TWO PERSON WORK TOGETHER FOR SCIENCE AND TECNOLOGY.
THERE IS NO WRITTEN AGREEMENT BETWEEN THEM.
WHAT KIND OF TAXABILITY IN INCOME TAX TO BE LEVY ON THE RECEIPTS RECEIVED BY THEM.
PLEASE ADVISE US ABOUT FOLLOWING:-
IF TWO PERSON WORK TOGETHER FOR SCIENCE AND TECNOLOGY.
THERE IS NO WRITTEN AGREEMENT BETWEEN THEM.
WHAT KIND OF TAXABILITY IN INCOME TAX TO BE LEVY ON THE RECEIPTS RECEIVED BY THEM.
21 January 2014
Income received by them will be chargeable to tax under profit and gains of business and profession
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