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Working partner

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Querist : Anonymous

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Querist : Anonymous (Querist)
06 August 2012 Dear expert,
whether an individual can be a working partner in 2 to 3 firms along with his proprietorship business.
Please advise me.
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Naresh Dharia F.C.A.

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Naresh Dharia F.C.A. (Expert)
07 August 2012 YES...why not...

But for the purpose of Sec 44 AB Tax Audit purposes...Share of Profit from the Firm by way of Remuneration will not be considered at all...Only Business Receiptd from the Prop Concern will be considered..

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