Menu
Total income for the assessment year
In which head commission from partnership firm taxable?
Replies (11)
Quick Summary
If 'commission' is your routine source of income, then taxable under PGBP. If it is a one-off transaction where you earned commission, then taxable under IFOS.
@ Anju Sharma,
Are you a partner ?
Are you a partner ?
Yes
By the way my name is Anuj 😅
By the way my name is Anuj 😅
It will be considered as PGBP.
@ Anuj Sharma,
It is taxable under business income.
Thanks for reminding your name 🤣
It is taxable under business income.
Thanks for reminding your name 🤣
Sec 194H INCOME FROM OTHER SOURCES. IN ITR 2 THERE IS A SEPERATE BIFURCATION.
For partner of a partnership firm ITR-3 is applicable
It is taxable under business income.
Hey Anuj, as per section 28(v) of the income tax act, 1961, any income received from partnership firm shall be taxable as PGBP.
Since the querist has not mentioned anything explicitly we are making presumptions.
That partner is a employee of a company..
Recent Topics :
- TDS on Redevelopers hardship allowance received no
- Who will take FSSAI AND TRADE LICENSE: owner or te
- E Way Bill in respect of Without Bringing Material
- FAST DS 2026 query
- Consultation
- E-way notices for FY 22-23
- Gst file not created
- Regarding 3CEB query
- Omitted E-Commerce Sales Reported in Table 14 but
- Omitted sales shown in GSTR-1 Table 14 but not in
Related Topics :
CAclubindia
