PROFESSION SERVICES TO NEPAL RESIDENT
This query is : Resolved
14 May 2020
A Partnership Firm engaged in coaching work at Delhi and has to pay a sum of Rs.200000/- (Two Lacs Only) to a Nepal Resident who provided professional services in India. What is a tax liability of Indian Partnership firm.
Vipin Kumar
Haryana
Vipin Kumar
Haryana
14 May 2020
Assuming it was a Non-Cash Transaction it can be claimed as Business Expense and debited to Profit and Loss Account for computation of Net Profit.
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