Expenses other than salary & interest paid to partner
This query is : Resolved
30 September 2015
Dear Expert, my question to you is that whether partnership firm is allowed to claim expenses paid to partner for some service provided by him other than salary and interest on capital?
For ex : If in a partnership firm, a partner conducts tution classes separately from his business, and partnership firm ask him to provide tution to it's staff clerks and pay fees for that. Whether such expenses is allowed as deduction?
For ex : If in a partnership firm, a partner conducts tution classes separately from his business, and partnership firm ask him to provide tution to it's staff clerks and pay fees for that. Whether such expenses is allowed as deduction?
30 September 2015
yes. Such expenditure can be treated as allowable expenses in the books of firm.
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