Please Help: Raise Capital in proprietory concern
Posted Date : 23-Feb-2015 , 04:02:23 pm | Posted By Sejal
Dear Members,
If proprietor receives gift of Rs.2.5lacs from father or spouse and invest as capital in business than shall profit earned from proprietory concern be clubbed in income of father or spouse from whom gift is received?
If proprietor receives gift of Rs.2.5lacs from father or spouse and invest as capital in business than shall profit earned from proprietory concern be clubbed in income of father or spouse from whom gift is received?
Category : Income Tax | Answers : 0 | Comments : 2 | Hits : 98
Answers
Comments
Aditya Goel
23-Feb-2015 , 04:25:30 pmNo
Alok Kushwaha
24-Feb-2015 , 10:33:16 amNo impact of clubbing of income, as share of income is exempted under section 10(2A)of income tax act, 1961.