May I Know how a joint venture's income is treated for taxation under Income Tax and under which Section?
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Taxation of a joint venture, depends upon the agreement between the parties, forming the joint venture. If the joint venture is established in the form of a partnership firm or as a company, it is taxed accordingly i.e. as a partnership or as a company. But in all other cases, a joint venture is treated as an AOP or BOI. Regards K.Ilayaraja. |
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