Head of income
This query is : Resolved
31 January 2017
If a Partner get profit from his partnership frim then, in which head he has to file the returns, income from salary or income business.
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Thanking you
31 January 2017
Profit from Partnership firm is fully exempted in the hands of partner u/s 10(2A). The profits are taxable in the hands of Firm.
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31 January 2017
In case salary and interest on capital is received from the firm, it is taxable in the hands of the partner under business income head.
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