Partners salary
This query is : Resolved
20 December 2013
Dear Sir/madam
for computing gross total income, is salary received by partner from partnership firm is adjusted by other business loss carried by partner because of partner salary charge ability section 28.
for computing gross total income, is salary received by partner from partnership firm is adjusted by other business loss carried by partner because of partner salary charge ability section 28.
20 December 2013
actually salary rcvd by partner is taxable u/s 28 i.e. PGBP. It is considered as business income. Hence whatever provisions are of sett off-c/f is apply to here. Other business loss can be set off against such income provided it is not speculative business income.
21 December 2013
i agreed mayur ji
21 December 2013
Yes. you are right in your thoughts. Further right explanation is given by Mr. Mayur
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
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Is online PGCE worth it?
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- 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
