Good noon to All,
A,B & C are partners of a firm named ABC which is a family managed business.
A - Father
B - Mother
C - Son
C who was not active earlier, has completed his studies and intends to take part actively in the business from 2021 on wards.
In relation to the same , he has joined an MBA course with specialization in FMB(Family Managed Business) It was 1.5 year professional course solely designed to support the Family Managed Business Entrepreneurs.
My question is whether the firm ABC can avail the ITC paid on course fees for the partner?
Course fees is around 15 lakhs (incl GST). Please have your views.
CAclubindia
