It return of partner

This query is : Resolved

rajesh (Querist)
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24 September 2009 one of my client has following income.
1. income from salary Rs.121000
2. income of commission from LIC 97443
3. income from salary as partner
( credited in his capital account as partner.)
4. Share of profit from partnership Rs. 30030/-

I want to know that how income ( both from salary and share of profit from partnership ) is to be shown in computation of income. whether it is income from other source or business income.
Please reply.
Thanks

Ratan Sharma

Ratan Sharma (Expert)
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25 September 2009 COMPUTATION OF INCOME

Income from Salary 121000

Income from business 197443
LIC business 97443
Salary from firm 100000
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Gross Total Income 318443
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Share in profit of firm is exempt from tax. File your return in ITR IV.