Accountancy, asked by harshal196, 10 months ago

salary to partner falls under which head in tax

Answers

Answered by rinkudeb636

0

Answer:

Salary paid to a partner by the firm is taxed in her/his hands under the head Profits & gains of Business or Profession. Such salary has the same character as the profits earned by a firm as held by the Apex Court in a number of rulings.

Explanation:

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