co operative housing society bye laws free download in marathi pdf

Further, share of profit received by a partner of LLP from the LLP will be exempt from tax in the hands of such partner. Share of Income from the Firm Īs per section 10(2A), share of profit received by a partner from a firm is exempt from tax in the hands of the partner. A will pay tax on his individual income but any sum of money received by him from his HUF is not chargeable to tax in the hands of co-parcener whether the HUF has paid tax or not on that income.ģ. A, a co-parcener is earning individual income of `. HUF earned `.90,000 during the previous year 2016-17 and it is not chargeable to tax. A will pay tax on his salary income but any sum of money received from his HUF is not chargeable to tax in Mr. A, a co-parcener is an employee and earns a salary of `.20,000 p.m. 5,00,000 during the previous year and paid tax on its income. Any sum received by a member from Hindu Undivided Family (H.U.F.) Īs per section 10(2), amount received out of family income, or in case of impartible estate, amount received out of income of family estate by any member of such HUF is exempt from tax.Įxample-1. Any income derived from saplings or seedlings grown in a nursery shall be deemed to be agricultural income.Ģ. As per section 2(1A), agricultural income generally means:Īny rent or revenue derived from land which is situated in India and is used for agricultural purposes.Īny income derived from such land by agriculture operations including processing of agricultural produce so as to render it fit for the market or sale of such produce.Īny income attributable to a farm house subject to satisfaction of certain conditions specified in this regard in section 2(1A). Agricultural income is defined under section 2(1A) of the Income-tax Act. List of Exempted Incomes (Tax-Free) Under Section-10Īs per section 10(1), agricultural income earned by the taxpayer in India is exempt from tax.

Co operative housing society bye laws free download in marathi pdf