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[Cites 0, Cited by 0] [Section 35(e)] [Section 35] [Entire Act]

Union of India - Subsection

Section 35(e)(v) in The Income Tax Act, 2025

(v)in this clause––
(A)"book profit" means the net profit, as shown in the profit and loss account for the relevant tax year, computed as per Chapter IV-D as increased by the aggregate amount of the remuneration to all the partners of the firm, if such amount has been deducted while computing the net profit;
(B)"working partner" means an individual who is actively engaged in conducting the affairs of the business or profession of the firm of which he is a partner;