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FOREIGN REMITANCE RECD IN FIRM ACCOUNT
if US company trf 1 lac USD to indian partnership firm what will be tax implications?? that 1 lac will be credited partners capital account
Replies (3)
Quick Summary
What is the reason for transfer?. Is it Export of goods or services by your partnership Firm.
It's being transferred from partner's company... capital contributions
Its a capital receipt in the hands of firm
but tax implication in the hands of partner needs to be analysed. the details you have given are insufficient
but tax implication in the hands of partner needs to be analysed. the details you have given are insufficient
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