Personal exp. of partner

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Querist : Anonymous

Querist : Anonymous (Querist)

03 July 2010 Can partner claim the deduction of Exp. from salary received from Firm.

CA Chitresh Gupta

CA Chitresh Gupta (Expert)
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03 July 2010 NO

CA. BIJENDER KR. BANSAL

CA. BIJENDER KR. BANSAL (Expert)
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03 July 2010 Agreed, No claim of expenses are allowed agasint salary except rent paid against HRA recd.

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CA Chitresh Gupta

CA Chitresh Gupta (Expert)
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06 July 2010 In my view, HRA exemption will not available as the for claiming exemtion there has to be a relationship of employer and employee. Moreover, the salary received by a partner of a firm is taxable under the PGBP, not under the head salaries.

Regards