An advocate is a partner in a legal firm which provides consultancy to foreign clients in india. The partner has income consisting of salary from firm & share of profit from firm of nearby 1 Crore. The partner is maintaining one office at house and incurred expenditure on salary, entertainment, electricity, telephone, professional charges etc. of Rs. 4 lacs. I want to ask whether this expenditure to the tune of Rs. 4 lacs can be adjusted from the share of profit earned. Please advice.............i need urgent help
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