Prorietor ship firm
This query is : Resolved
07 February 2009
in case of Auditable Proprietorship Firm , Conveyance & Telephone Exps of Prorietor is allowable?
07 February 2009
if it is wholly & exclusively for business ,then it is allowable.
Chirag B Shah
(Expert)
07 February 2009
No, As the same is incurred for personal Benefit it will not allowable U/s.37(1)
CA Nitin Wadhwani
(Expert)
07 February 2009
If its of Personal nature it should be debited to capital a/c and otherwise to income statement
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