urgent
This query is : Resolved
06 August 2010
Two individuals purchased land in their joint name for Rs 30 lakhs They gave a contract for construction of 6 flats. 3 flats were completed and sold during financial the year 2009-10 and three flats will be completed during 10-11.
Can they file their IT as partnership Income from business?
Can they file their IT as partnership Income from business?
06 August 2010
To treat it as partnership, they must have deed. it is better to be individuals.
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