Raghuveer
(Executive)
(167 Points)
Replied 25 June 2017
Unlike proprietorship, the income from partnership and company are not considered as income of the partner or director. In the case of companies, the company has a separate legal entity.
In these cases, if the rental income were to be received by the partner/director in his individual capacity and the firm/company derives other business incomes, the partner's/director's income alone would have to be considered for determining if the threshold has been crossed. If such partner's/director's business income is les