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Credit Card Expense of Partner

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(Querist)
08 August 2008 Hi All,

Can the personal expenditure by credit card by a partner is allowable as deduction to firm or whether it is liable to FBT
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
08 August 2008 No personal expenditure is allowable for computing taxable profits.

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