ELECTRICAL BUSINESS

Hi 

All moneys which come into the bank account have to be explained. You can either regard it as the revenue or take it as the capital introduced by partners (the income will belong to partners) or loan. 

There is nothing that debars the firm from carrying on any business. The deed is for the partners for settlement of any future disputes, nature of business is not an issue at all. 

Regards

Sahana Murthy

Whether TDS is deducted on such labour income or not . PLs check

If the TDS certificate is in the name of Partnership firm , then show it accordingly.

Otherwise as suggested by Sahana.