Allowablilty of guest house expenses

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25 Points Posted on 15 December 2011

I WANT TO KNOW WHETHER THE MAINTENANCE AND REPAIR EXPENSES WILL BE ALLOWABLE AS AN EXPENSE IN A PARTNERSHIP FIRM, WHERE ONE OF THE PARTNERS PROVIDE THEIR RESIDENTIAL FLAT IN AN AGREEMENT TO BE USED AS A GUEST HOUSE FOR THE FIRM.

PLEASE SUGGEST ME ...................

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On 15 December 2011 at 18:51 Report
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Chartered Accountant
365 Points Posted on 15 December 2011

Yes you can clame expenses under section 37(1)

please read the section for further clearence

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On 15 December 2011 at 18:57

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