Expenses from salary, etc received by partner of llp u/s 28
This query is : Resolved
08 September 2019
Which section of Income-tax allows deductible expenses from Salary, interest received by a partner of LLP u/s 28(v)? As it is considered as PGBP income, which all expenses can be claimed?
09 September 2019
The partners salary and interest is taxable under the head PGBP in the hands of partners. in case u can prove any expenditure made to earn such salary and interest, it shall be allowed as expenditure u/s 37(1) in the hands of partners.
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