Deductible Expenses Prior to formation of Partnership

Tax planning 725 views 2 replies

Hi All,

Which all expenses can be claimed for deduction in the previous year if a firm became evidenced by an instrument after half year. i.e. to say, a firm started its business on 1-4-2010 without any Partnership Deed in writing. Firm got itself a deed in the month of Dec 2010 to get PAN.

Which income and expenditure will get reported in the return for the previous year?

Kindly provide any information that you may have.

Aman

Replies (2)
Originally posted by : aman gupt


Hi All,



Which all expenses can be claimed for deduction in the previous year if a firm became evidenced by an instrument after half year. i.e. to say, a firm started its business on 1-4-2010 without any Partnership Deed in writing. Firm got itself a deed in the month of Dec 2010 to get PAN.



Which income and expenditure will get reported in the return for the previous year?



Kindly provide any information that you may have.



Aman

on what documents basis the firm started business, as the partnetship deed ( registered or unregistered) is a very primary document to start a partnership, 

 

before partnership deed the business is void. it would be treated as AOP /BOI which is distinguished from partnership. 

Dear sir

we deducting salary tds for the employess ceratain months only. now i filling tds return which month i dedicted tds that month i fill return or remaining months also i taken filling purpose or not . Pls help me


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