05 August 2024
PQR LLP, Mr. C & Mr. D are the partners of XYZ Joint Venture LLP. XYZ Joint Venture LLP doing business & pays 30% income tax on their income After paying tax (30%), XYZ Joint Venture LLP shares profit to their partners in their profit sharing ratio. Question, Is PQR LLP also liable to pay income tax @30% on profit received?
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