Transitional tax credit for eligible dealers survives incorrect form entries, while previously available eligibility objections cannot be raised on ap...
Partner's remuneration from a firm or LLP is taxable as business income under section 28(v), subject to adjustment for amounts not allowed as deductions to the firm under section 40(b). As a derivative partnership receipt rather than gross receipts from the partner's own profession, the remuneration falls outside presumptive taxation under section 44ADA. Actual salary receipts may require verification against employer confirmation and bank statements where Form 16 does not cover the full year. A claim that discretionary additional remuneration is non-taxable under the proviso to section 28(v) requires verification, separately from the exempt share of profit under section 10(2A).
Partner's remuneration from a firm or LLP is taxable as business income under section 28(v), subject to adjustment for amounts not allowed as deductions to the firm under section 40(b). As a derivative partnership receipt rather than gross receipts from the partner's own profession, the remuneration falls outside presumptive taxation under section 44ADA. Actual salary receipts may require verification against employer confirmation and bank statements where Form 16 does not cover the full year. A claim that discretionary additional remuneration is non-taxable under the proviso to section 28(v) requires verification, separately from the exempt share of profit under section 10(2A).
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