Rent Purpose

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Accountant
110 Points Posted on 19 August 2021

Mr. Ram  & Mr. Shyam partner of a company Name ABC Enterprise , Every month ABC Enterprise   given Partners  salary to Mr. Ram  & Mr. Shyam , Recently  Mr. Ram & Mr. Shyam  jointly purchase a Garage in their PERSONAL Name (share 50:50 percentage )  . Now Mr. Ram  & Mr. Shyam want show this garage ABC Enterprise garage rent purpose to    .

ABC Enterprise can Show this traction in book?

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On 19 August 2021 at 19:00 Report
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Quick Summary
This discussion explores whether ABC Enterprise, a partnership firm, can pay rent to its partners, Mr. Ram and Mr. Shyam, for a garage they jointly own in their personal names. The consensus is that the business can indeed pay rent for using the garage for its operations. It is advisable to formalise this arrangement with a rent agreement for administrative ease.

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791 Points Posted on 19 August 2021
I think yes you can show this transcation in books of ABC enterprises
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On 19 August 2021 at 23:32
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Practising CA
8954 Points Posted on 20 August 2021
Yes. ABC enteprise partnership firm can pay rent to Mr. Ram and Mr. Shyam for using the garage for business purposes. Sign a rent agreement for administrative convenience
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On 20 August 2021 at 09:30

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