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Income Tax - Highlights / Catch Notes

Home Highlights February 2016 Year 2016 This

Partners remuneration u/s. 40b - once the additional income ...


Partners Can Claim Remuneration From Additional Business Income u/s 40b If It's Disclosed and Explained During Tax Survey.

February 7, 2016

Case Laws     Income Tax     AT

Partners remuneration u/s. 40b - once the additional income offered for taxation during the survey is accepted and it has been explained to be as business income as the source then there is no bar in the Act for claiming partners remuneration from such additional business income - AT

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