If any assessee is partner in firm till november 2015, and he has received interest from such partnership firm. This interest is taxable as business income or other sources.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(162450 Points)
Replied 08 November 2016
Till he was partner in firm, any interest received will be under Business Income. After retirement as partner, it will be under Income from other sources.
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