CA Day celebration 2024 Easy Office
LCI Learning

Assessment of Joint Venture

This query is : Resolved 

30 May 2008 A partnership firm along with two individual entered into joint venture for a particular project; and after the completion of the project the agreement will come to an end. My question is that whether the Joint venture unit will be a separate taxable entity or the profits or gains will be taxed in the hand of the party of the Joint venture i.e Partnership firm and two individual.

30 May 2008 The JV is a separate assessable unit in the status of AOP.

30 May 2008 Yes I agree with Shyam that AOP will be taxable as a seperate entity as an AOP.




You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries




Answer Query