10 February 2011
One of the my client purchased land, taken development agreement & POA in three individual names jointly. All permissions are appoerved by the authorities on the 3 joint individual names. Whether i refere to my client to form partnership firm or AOP, For taxation & book keeping purpose which one is suitable as per income tax law. my query is all the permissions are in joint individual name, what is the effect if i suggest for to form a partnership firm or AOP. thanx
CAclubindia
