Table of Contents:
·
1. Salient Features of the Assessment of a
Firm:
·
2. Essential conditions prescribed under
Section 184 of the Income-tax Act, 1961:
o
(1). Firm to be assessed as firm
o
(3). Assessment when section 184 not complied with
[Section 185]
o
(4).
In the First Assessment Year:
o
(5).
In the Subsequent Assessment Years:
·
4. Set Off and Carry Forward of Losses of
Firms
§
Treatment in case of change in Constitution of Firm will
be as follows:
·
5. Computation of Total Income of Firm
(including Limited Liability Partnership)
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