Tax effect of AS 27 on JCE

Ashish R.Dubey (Articled) (28 Points)

30 November 2010  

Dear Sir / Mam,

As per Accounting Standard 27, There are three ways in which an agreement can be entered for a joint  venture i,e  JCO, JCA & JCE.

One can form a seprate entity with the option JCE, but forming a seprate entity like company, firm will lead to double taxation, one to the entity & other to the venturer(i,e share of income from jointventure).

I just want to confirm that is there any relief for the above matter. if not why one will enter Joint Venture with JCE.