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 ...................
Yes you can clame expenses under section 37(1)
please read the section for further clearence
Abic and Mani Chartered Accountants
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