Expenses that can be claimed against partnership remuneration

Querist : Anonymous (Querist) 27 December 2010 This query is : Resolved
Dear Sir,

Can i know the list of expenses that can be claimed against the remuneration in the way of salary or interest received from the partnership firms ?

Follow Query

Report Abuse

A V Vishal (Expert) 27 December 2010
Ans. No expenses can be claimed against partner's salary. In respect of interest any expense incurred by way of collection etc and any interest paid on borrowed amounts to invest as capital in the firm can be claimed as an expense.

Previous

Next

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now