Sunder (Business) (165 Points)
23 July 2013If a person is making profit/loss from frequent buy/sale of Mutual Funds, can this income be treated as business income & added to income from other Proprietory firms owned by the person?
In such a case what tax rates are applicable?
When does corporate tax rates (30%) come into picture? Are Proprietory & Partnership firms outside the limits of Corporate Tax?
Mihir Manohar
(CA Final - Article Assistant)
(474 Points)
Replied 23 July 2013
Patnerships are directly taxed at 30%.This is not so in the case of Propietorship firms. For mutual fund query i too wanna know that???
Live Course on Invoice Management System (IMS) - 2nd Batch(With Recording)
CAclubindia
