Credit Card Expense of Partner
This query is : Resolved
Praveen Maniyar
(Querist)
08 August 2008
Hi All,
Can the personal expenditure by credit card by a partner is allowable as deduction to firm or whether it is liable to FBT
Can the personal expenditure by credit card by a partner is allowable as deduction to firm or whether it is liable to FBT
S.Srinivasaraghavan
(Expert)
08 August 2008
No personal expenditure is allowable for computing taxable profits.
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