Menu
Doubt chargeable under which head
If I am getting Remuneration or salary from partnership firm whether it is chargeable under which head of income.
Replies (4)
Remuneration and interest received by partner from firm is taxable as Business income. However, share of profits from firm is not taxable in the hands of partner. Hence, if partner is receiving only exempt income i.e. share of profits from firm, then also he is required to file ITR-3 only.
Profits & gains from business or profession
Taxable in The PGBP head
Taxable under head " Profits & Gains from business or profession "
Recent Topic
- Section 192 2(b) entry in IT return ITR 1
- Rent from redevelopment property
- How to find FMV of inherited gold after selling it
- Happy CA Day!!
- Share your proudest CA moment 🏆
- Gift recd from brother
- How to show Loan write off in DPT 3?
- Form 10E and Salary arrear
- LTCG U/S 54F. Sale of property plus sale of share
- Issue with ITR2 online utility for HUF
Related Topics
CAclubindia
