29 July 2015
Hi Mr Father is partner is partnership firm XYZ (sleeping partner) Mr father qualifies for 85% disability Mr son is also a partner in said XYZ firm. (active partner) Can mr son claim deduction under 80DD or does mr father have to claim in section 80U?
30 July 2015
Hi Sanjay Thank you for your reply. Father is dependent on the son. But the point of contention is that the father is partner in partnership firm (as a sleeping partner). Still considering the said fact can Son claim deduction under 80DD.
30 July 2015
What does the Partnership agreement says about the profit sharing ratio? Is any interest on capital paid?
If there is no substantial source of Income for the father then son can claim deduction u/s 80DD otherwise the father needs to claim deduction u/s 80U while filing his Income Tax Return.