BENIFITS TO PARTNERS

This query is : Resolved

BRIJ KUMAR GUPTA (Querist)
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08 August 2007 SIR/MADAM
I WANT TO KNOW
IF THE PARTNERSHIP FIRM GIVES THE TAX LIABILITY OF PARTNERS AS BENEFITS THEN WHETHER THE PARTNERS WILL BE BENEFITED WHILE CALCULATING TAX OF PARTNERS

CA Prasanna Krishnan V

CA Prasanna Krishnan V (Expert)
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11 August 2007 Dear Sir

The question is not clear.

Do you come to say the following-

If the firm pays the income tax dues of the partners, whether partners can claim the same during their individual tax calculation?

If firm pays for partner's IT due, as per that challan (with partner's PAN therein) partner claims tax credit.

It is treated as drawing by the partner.

Is your question answered?