If a firm is not evidenced by an instrument or if the partners shares are not determinate or if the partnership deed is not submitted along with the return of income then such firm shall be
A. Assessed as firm but firm shall not be entitled to deduction on account of any interest or remuneration to partners.
B. Assessed as individual.
C. Assessed in the hands of its partners by including the share of profits in their income.
D. Assessed as AOP.
Answer:A
If a firm is not evidenced by an instrument or if the partners shares are not determinate or if the partnership deed is not submitted along with the return of income then such firm shall be
A. Assessed as firm but firm shall not be entitled to deduction on account of any interest or remuneration to partners. B. Assessed as individual. C. Assessed in the hands of its partners by including the share of profits in their income. D. Assessed as AOP.