How is the computation of chargeable income done under partnership.

1.	How is the computation of chargeable income done under partnership.
Answer» Computation of taxes as per Income Tax Slab Rates is not allowed as the benefit of Slab Rates is only available to Individuals and HUF’s. Capital Gains arising from the sale of any asset by the partnership firm are taxable under Section 112.

Answer»

Computation of taxes as per Income Tax Slab Rates is not allowed as the benefit of Slab Rates is only available to Individuals and HUF’s.

Capital Gains arising from the sale of any asset by the partnership firm are taxable under Section 112.

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How is the computation of chargeable income done under partnership.

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