JOINT VENTURE..

Hi All


guys my querry : - what are application sections on joint venture under The Income Tax Act ?


Thx

Replies (5)
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

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