CourseCart.in
(Mentor at SHAYVIDZ Academy)
(3756 Points)
Replied 21 January 2010
| Originally posted by : swajitha | ||
 |
the question has been diverted...i would like to know wat do we mean by it will not be treated as a firm under section 184...can any one help me out with tat sentence |  |
Swajitha,
where is it written "Agricultural Firm will not b treated as a firm u/s 184" ?????
swajitha
(ca..final)
(68 Points)
Replied 21 January 2010
in manhoran sirs material.....i did not refer the act....it is in reference to a case law.....
swajitha
(ca..final)
(68 Points)
Replied 21 January 2010
i think it is not treated as a firm with respect to share of profit if the firm has only agricultural income...hence accordingly the share of income is exempt to the partners under section 10(1) and not under section 10(2A)...is my interpretation right
CA.G.Muguntha Narayanan
(Internal Auditor at TVS Motors)
(2195 Points)
Replied 22 January 2010
hi swajitha,
you are right. it is exempt u/s.10(1). it will be aggregated with income of partners for rate purposes. Please refer Murlidhar Kanoi vs. Dy.CIT Case Law
CAclubindia
