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House Rent of Partner in LLP

Tax queries 851 views 3 replies
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Accountant
305 Points Posted on 10 December 2019

Dear Experts

Can Room rent of partner show firm's expenses in Partnership firm LLP.?

 

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On 10 December 2019 at 15:30 Report
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42 Points Posted on 11 December 2019
No
it is personal expenses
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On 11 December 2019 at 19:18
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17264 Points Posted on 12 December 2019
It will be considered as partner's withdrawals towards room rent.
101 Reply
On 12 December 2019 at 01:21
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Student
23688 Points Posted on 14 December 2019
No. Personal Expenses of a Partner cannot be showed in the P&L A/c of the LLP Firm.
97 Reply
On 14 December 2019 at 23:56


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