Partnership firm has loss in year say 2012-13 year Rs.20k (PSR 1:1 i.e., two partner) In current year 2013-2014 ,partnership firm has a profit of Rs.40k as per p&l a/c. so firm will pay the tax on Rs 20k after adjusting the c/f loss of Rs 20k. So my question is that is 20k is exempt profit for each partner or they have to pay taxes on Rs.10k...???
Sir/madam,in form 16 If hra exemption is 44000/- then what itr form will be used
sIR,
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Belated return