05 February 2016
prepaid sim-card cannot be purchased in partnership firm's name.
If; pre-paid mobile bill payments (prepaid sim in partnership firm's partner's name) are made from partnership firm's bank account every-month & a genuine receipt for that is available, Can those expenses be shown as partnership firm's expense ??
N.B. - prepaid sim card is in partner's name not partnership firm's name. N.B. - payment made from partnership firm's bank account & also a valid receipt is generated in partnership firm's name by the service provider.
N.B. - KINDLY STICK TO THE QUESTION PLEASE. THANK-YOU.
08 February 2016
The expenses can be claimed if proved that partners solely use the sim for the partnership firms business activities and not their personal purpose.
CAclubindia
