Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram

TMI Blog

Home

Taxation of Firms & its Partners

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... 112A 10% On Long Term Capital Gain u/s 112 20% On Short Term Capital Gain on sale of shares as per section 111A 15% Surcharge:- The amount of income tax shall be increased by surcharge @ 12% of such income tax in case of a firm having total income exceeding ₹ 1cror .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... the firm on account of any exemption or deduction as per the provisions of the Act. [ CIRCULAR NO. 8/2014 Dated 31.03.2014 ] Remuneration and interest paid to the partners is allowed as deduction to the firm subject to the limits and conditions specified in section 40(b) . Remuneration and interest received by the partners shall be taxed in their hands under PGBP under sec .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... arry forward in the hands of the firm, even if there is a change in the constitution of the firm. Due dates for filing of return of Firm a. 30th September, where accounts of the partnership firm are required to be audited under Income- tax Act or under any other law for the time being in force. b. 31st July in any other cases. 9. Due dates for filing of return of Partn .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

 

 

 

 

Quick Updates:Latest Updates