https://www.taxtmi.com/circulars?id=52755 The firm's total income for the non-attribution rule includes amounts exempt or deductible under the tax law; once the firm is assessed and taxed on that income, the profit credited to partners cannot be taxed again in their hands, and partners' credited profits remain exempt even if the firm's taxable income becomes nil due to exemptions or deductions. en-us Mon, 31 Mar 2014 00:00:00 +0530 Mon, 28 Aug 2023 11:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=52755 The firm's total income for the non-attribution rule includes amounts exempt or deductible under the tax law; once the firm is assessed and taxed on that income, the profit credited to partners cannot be taxed again in their hands, and partners' credited profits remain exempt even if the firm's taxable income becomes nil due to exemptions or deductions. Circulars Income Tax Mon, 31 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/circulars?id=52755