While granting tax relief to a leading law firm in India, the Income Tax Appellate Tribunal (ITAT), Mumbai bench has held that the payment made by the assessee-firm to retiring partners and legal heirs of the deceased partners in terms of the Partnership Deed is excludable from the total income of the firm. The assessee, […]
The post Payment to Retiring Partners and Legal Heirs of deceased Partners by Law Firm as per Deed is excludible from Total Income: ITAT [Read Order] appeared first on Taxscan | Simplifying Tax Laws.
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