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Taxability

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(Querist)
21 January 2014 DEAR EXPERTS,
PLEASE ADVISE US ABOUT FOLLOWING:-
IF TWO PERSON WORK TOGETHER FOR SCIENCE AND TECNOLOGY.
THERE IS NO WRITTEN AGREEMENT BETWEEN THEM.
WHAT KIND OF TAXABILITY IN INCOME TAX TO BE LEVY ON THE RECEIPTS RECEIVED BY THEM.
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Ganeshbabu K

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Ganeshbabu K (Expert)
21 January 2014 Income received by them will be chargeable to tax under profit and gains of business and profession

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