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firm and AOP

Tax queries 1262 views 3 replies

can any one please clear the difference between the firm and the associates of persons (AOP)

Replies (3)

the members/partners of a partnership firm must be a human being i.e. he/she must be an individual

whereas in a AOP the members may be any person (natural/artificial) described in the Income Tax  Act, 1961

 

One of my friends has two house loans
 
For 1st house loan interest is 59900
For 2nd house loan interest is 149000
 
One is parental occupied and another one is rented he climes for HRA how it is possible
And how much current year loss he will get benefit.
 
Pls solve the problem
 
  1. How much HRA he will clime?
  2. how much interest will exempted as current year loss
 
pls mail me 9248004555tax @ gmail.com

thanks but what do u mean by artificial???


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