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Allowability of Business expense taken in the name of partner
Can broadband connection taken for the purpose of firms operations be taken in the name of partner? If so, whether such expense can be allowed as deduction in the Profit and loss of the firm? kindly clarify?
Replies (2)
The connection should t in the firm name.
If there are many b2c invoices daily around more than 50 in the name of different buyers..how to account for such invoices in tally? whether all such invoices need to be entered?
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