Mr. Vijay is partner in Tools & Co., a partnership firm in Mumbai. He received ₹ 30,000 as share income from the firm for the year ended 31-3-2017. He also received interest at 12% per annum on the capital invested i
CS Executive · Tax Laws and Practice · PYQS · June 2017
Mr. Vijay is partner in Tools & Co., a partnership firm in Mumbai. He received ₹ 30,000 as share income from the firm for the year ended 31-3-2017. He also received interest at 12% per annum on the capital invested in the firm and the amount being ₹ 24,000. His income from the firm includible in individual assessment is :
Answer & Explanation:
Correct Answer: Option (B)
Official answer key: (B).
Topics: Income Tax
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