remuneration to partner
This query is : Resolved
CA BUNTY TALREJA
(Querist)
30 April 2009
loss on sale of tempo(fixed assets of firm) is allowable as expenses while calculating adjusted profit?
CA. B.SRINIVASULU
(Expert)
30 April 2009
Since you are telling its tempo and should have been used for business. Therefore the loss on sale of tempo is allowed as expenses for calculating adjusted profits.
Manmohan ACA, CS
(Expert)
01 May 2009
NO it is short term capital loss
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