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Income Tax - Highlights / Catch Notes

Home Highlights December 2020 Year 2020 This

Characterization of interest income from the partnership firm as ...

Income Tax

December 25, 2020

Characterization of interest income from the partnership firm as business income - Presumptive income @8% u/s 44AD - Interest and salary received by the assessee from firms in which he was a partner - conspicuously section 28(v) has not been included in sub-section (2) of Section 44AD which deals with any interest, salary, bonus, commission or remuneration by whatever name called, due to or received by, a partner of a firm from such firm. - HC

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