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Dear Expert If a Proprietor get Remuneration and interest from there another partnership business then can this remuneration and interest will taxable under in his Proprietorship business
Replies (5)
partners remuneration is taxed in parynership firm hence I will not again taxable. it will not taxable in proprietorship business.
Remuneration & Interest on capital both are taxable income to partner.
But under partnership business is taxable or under Proprietor business is not taxable is it right or wrong
In partnership firm the remuneration & interest shows as expenses that's why it's taxable income for Proprietorship firm. (individual)
good clarification and information
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