Partnership Firm Taxaion on sale of real estate

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  1. Sai Gun

    Sai Gun New Member

    Dear Sir/ Madam,

    Can a partnership firm( with NRI partners) decide on paying lesser of 10% without indexation or 20% after indexation on the sale of real estate. Or is this exemption only for individuals and NRI.

    Also does the NRI whose income when added to the partnership income increases above 1 cr owe the surcharge on only the income tax excluding the partnership income since he has paid the tax on the income from the partnership at the partnership level

    Thank you for your time

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