Expenses by the partner on foreign tour
This query is : Resolved
DEVENDER THAKUR
(Querist)
18 July 2016
Respected Experts !Please guide me.If a Partner of the Partnership firm goes on foreign tour on vacation. is it allowable to charge the expenses to firms P&L Account or it needs to be debited to the Capital Account of the Partner itself? Please guide me.....
Amol S Joglekar
(Expert)
18 July 2016
it shall be personal expenses....to be debited to capital account.
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