JOINT VENTURE..

hi guys any answere

depending on drafting of joint venture .......it can be AOP , PFAS or profit share directly assesable in the hands of beneficiary .......provision of income tax to apply accordingly......... A HIGHLY TECNICAL ISSUE .........CONSULT OFFLINE ALSO

hi sampat sir what is PFAS sir?

Dear Ajay Joint venture is not defined in the defination of person .As per section 2(31) person includes (i) an individual (ii) a Hindu undivided family (iii) a company, (iv) a firm (v) an association of persons or a body of individuals, whether incorporated or not, (vi) a local authority, and (vii) every artificial juridical person, not falling within any of the preceding sub-clauses. Accordingly nature of joint venture is depends on your method of registration & tax rate shall apply accordingly

Hi Sampat The Joint venture can be in following form 1. AOP 2. BOI 3. Company 4. Partenrship Firm & PFAS means Partnership Firm assessed as such All the aobve will depend upon the type of JV & it's JV Agreement