Section 64 of it
This query is : Resolved
29 May 2014
If husband and wife, both and only two partners in a partnership firm, having 50% each profit sharing ratio, both are working partners,remuneration drawn by each of them whether it is clubbed u\s 64 of Income Tax Act in the hands of spouse.
29 May 2014
If both the spouses are technically competent then question of clubbing under section 64 doesn't arise.
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30 May 2014
no if both working then no clubbing provision applicable.
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