Can anybody give me a list of expenses exempted for partnership firm under Income Tax
Expenses exempted from Income Tax-Partnership Firms
Mukesh Sarwal (Sr Manager) (25 Points)
01 July 2010
Mukesh Sarwal (Sr Manager) (25 Points)
01 July 2010Can anybody give me a list of expenses exempted for partnership firm under Income Tax
L V SURYANARAYANAN
(PROP)
(34 Points)
Replied 01 July 2010
i am not very sure what is u r doubt. anyway all expenses related to the business will be exempt.
in addition if the partnership deed provides for salary/remuneration to the partners and interest on capital contribution such amounts will be allowed as exempt subject to the limits laid down under the i t act.
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