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Section 40(b) of Income Tax Act

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(Querist)
28 February 2017 Whether professional charge paid to a partner by a firm otherwise than in the capacity of a partner is allowed under income tax Act or not?
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CA S K MISHRA

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CA S K MISHRA (Expert)
28 February 2017 Yes it is a business expenditure and allowable under Income tax Act.
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CA Faisal T M

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CA Faisal T M (Querist)
28 February 2017 Partner is Doctor and the firm paying professional charge to him after deduction tds u/s 194J
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CA S K MISHRA

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CA S K MISHRA (Expert)
28 February 2017 Yeh, I got your point. It is an allowable business expenditure.
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CA Faisal T M

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CA Faisal T M (Querist)
28 February 2017 Thank you sir

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