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House Rent of Partner in LLP

gupta (Accountant) (305 Points)

10 December 2019

Dear Experts

Can Room rent of partner show firm's expenses in Partnership firm LLP.?

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3 Replies

Rohit Toshniwal (42 Points)
Replied 11 December 2019

No
it is personal expenses

Kapadia Pravin (17249 Points)
Replied 12 December 2019

It will be considered as partner's withdrawals towards room rent.

Shivam RC (Student) (23683 Points)
Replied 14 December 2019

No. Personal Expenses of a Partner cannot be showed in the P&L A/c of the LLP Firm.

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