LIC input tax of partner
This query is : Open
14 February 2025
Sir.
One of partnership from take LiC for this partner(husband & wife).They make payment through firm account. Input reflect in 2B. Can get calim in 3B.
Please advise
Binu
One of partnership from take LiC for this partner(husband & wife).They make payment through firm account. Input reflect in 2B. Can get calim in 3B.
Please advise
Binu
14 February 2025
if it is for personal purposes, then yes, it should not be claimed.
Message likes :
1 times
14 February 2025
Thanks for information Nikhil sir.
Both are 2:1 partner share.
Can this treat expense or there capital drawing.
With Regards
Binu
Both are 2:1 partner share.
Can this treat expense or there capital drawing.
With Regards
Binu
15 February 2025
better to treat as drawings only.
15 February 2025
Thanks you Hikhil sir
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS deposited against property purchase from NRI
- 26QB Form - TDS
- Transfer of joint ownership in the flat to the brother who is another joint owner- Maharashtra
- Income Tax Audit for New Partnership Firm
- Capital Gains_Gift and sale thereafter
- TDS DEMAND FOR LATE FILING LEVY
- Benefits to sr. Citizens
- SHORT DEDUCTION CASE OF TDS
- Gratuity fund withdrawal from LIC
- ULIP Purchase by Parent
- RCM on rent on commercial Building
- Payment of Interest - Vivadh se viswas scheme
- Gold and silver jewellery transaction sec 44ad person
- Refund - 194B TDS on earned from card games
- NRI returning India for permanente settle and NRE fixed deposit interest taxability
- Mahastratra stamp duty act- gift of immovable property
- GST CLARIFICATION REGARDING
- Clarification regarding IMS
- Looking for Affordable Iron On Patches in Malaysia
- LIC input tax of partner
Trending Online Classes
-
PF & ESI Course - Labour Code 2019 Along with Examples and Case Studies
Mr.Balamurugan Ranganathan13 March 2025
CAclubindia
