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TAXATION OF PARTNERS INCOME, Income Tax

Issue Id: - 3658
Dated: 19-12-2011
By:- K RAJKUMAR

TAXATION OF PARTNERS INCOME

Contents

A PARTNER OF A PARTNERSHIP FIRM, CLAIMS PERSONAL DRIVERS SALARY AS DEDUCTION

FROM HIS SALARY AND INTEREST ON CAPITAL .IS IT AN ALLOWABLE EXPENSE?

Posts / Replies

Showing Replies 1 to 1 of 1 Records

Page: 1

1 Dated: 3-1-2012
By:- k Nagarajan

the salary and interest from partnership firm is an income from Profession/Business.So any expense including Driver's salary which is for the purpose of the Business is an allowable deduction.

Page: 1

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