Tax Query

1st of all we have to see for a venture did they create any new company or working thogether for the project and the project is on the both name....pls clerify this

Depending on the tax planning options the venturers may decide to show the business as a AOP or tax it individually in the hands of each venturer in the ratio of their JV..

If it is not assesseed as a AOP money paid by one venturer to another to tide over a loss will be considered as income and will be set off against the loss of that venture it self..