Capital drawings

Niharika (Student CA Final ) (77 Points)

08 July 2014  

Hii All

Mr. A has invested 20Lacs in a partnership firm through capital introdcution. During the year he withdraw Rs. 1.80Lacs on account of Drawing/s.

Whether he is liable for tax on such 1.80 lacs drawings?

Whether he is required to show 1.80 Lacs in his Return of income? If yes, then under which head?

Please help.

Thanks

Niharika