Income from firm
This query is : Resolved
21 March 2014
The Firm has only Agriculture Income. Partner receive the income from firm.
then, In the hands of the partner the income from firm is exempt as partner receive from firm or not ??
or
Partner showing as income under agriculture income in his return??
then, In the hands of the partner the income from firm is exempt as partner receive from firm or not ??
or
Partner showing as income under agriculture income in his return??
21 March 2014
income from the firm to the partner is exempt in the hands of partner
21 March 2014
partner has also another income then also the same effect ???
22 March 2014
Yes as per sec. 10(2A), Partner's share from any partnership firm is exempt.......
22 March 2014
The simple logic behind this is that income tax department cannot tax anyone twice fro any income
22 March 2014
this income is already taxed in the hands of the firm.......
Thus it cannot be taxed twice in the hands of the partner.
Thus it cannot be taxed twice in the hands of the partner.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- Capital gain consideration
- TDS deduction (debit notes)
- Can a partnership firm become partner in a LLP ?
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- TDS on purchase of value vouchers for employees ?
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
