Menu
Share of profits from partnership firm
Can we show share of profits from partnership firm under income under the head other sources??
Replies (3)
No.
Its capital receipt, not taxable .......
so where it is to be shown? whether it is to be shown under income from busindss profession
Remuneration & interest received from partnership firm is taxable under business income, not the shares of profit of firm, (which is not taxable)
The shares of the profits of firm is declared under 'Schedule IF' of ITR3.
Recent Topics :
- Itr 4 problem
- Capital Gains Mismatch Due to Sale Agreement in FY
- REGARDING NRO INVESTMENT IN SHARES OF DOMESTIC COM
- DTAA benefits
- SUPPLEMENTARY AGREEMENT FOR ADDING A PARTER IN TN
- Part availmement of ITC in case of rejection of su
- Due date for itr 5 no audit with loss for fy 25 26
- Capital Gains Mismatch AIS
- Inward E-way bill from Tally Prime 7.1
- Query regarding exemption under Section 10(10AA) &
Related Topics :
CAclubindia
