If the Managing partner of a partnership firm enrolls in a full time / part-time educational course like LLB, can the application fees, regular course fees, other related expenses, etc. be expensed from Partnership Firm's accounts ?
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Can we expense professional education expenditure ?
Replies (4)
No, not allowed
No... It's not allowed in the Firm's account.
No. However, if Partnership firm is engaged in providing legal services then partner can show the same as employee related expense but that will be added to partners salary
no cannot
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