EXP. INCURRED BY PARTNERSHIP FIRM FOR ITS PARTNERS
This query is : Resolved
12 March 2011
DOES EXPENSES INCURRED BY PARTNERSHIP FIRM FOR ITS PARTNERS ARE ALLOWABLE FOR THE PURPOSE OF INCOME TAX CALCULATION?
12 March 2011
Expenses incurred by the firm for or on behalf of the partner are personal expenses of partner and can not be treated as business expenses of the firm, hence such expenses are not allowable in the case of firm.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Supply through E-commerce Operators
- Relief u/s Section 89
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Sales return eway bill
- E way bill for tractors
- REGARDING GST LIABILITY/....
- Agriculture income or business income
- STCG on ETF gold & silver
- If there is Long term capital gain exists how much total income to be considered
- GST ON DAMAGED GOODS
- Specified Profession
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
