Section 40(b) of Income Tax Act
This query is : Open
28 February 2017
Whether professional charge paid to a partner by a firm otherwise than in the capacity of a partner is allowed under income tax Act or not?
28 February 2017
Yes it is a business expenditure and allowable under Income tax Act.
28 February 2017
Partner is Doctor and the firm paying professional charge to him after deduction tds u/s 194J
28 February 2017
Yeh, I got your point. It is an allowable business expenditure.
28 February 2017
Thank you sir
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