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    Question

    Salary received by the Partner of a Firm is charged

    under the head
    A Salaries Correct Answer Incorrect Answer
    B Business Income Correct Answer Incorrect Answer
    C Other Sources Correct Answer Incorrect Answer
    D Its exempt from tax Correct Answer Incorrect Answer

    Solution

    When a partner of a firm receives a salary, it is treated as "Business Income" for tax purposes. The partner's salary is considered part of the overall income generated by the business, and it is taxed accordingly under the category of business income.

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