Salary received by a Partner from firm is taxable u/s 28 under the head Profit and Gains fron Business or Profession.
The question is Can the Partner claim expenses under sec 37 for the above income????
If not Why???
1 Replies
CA Gaurav Choradia
(Relationship Manager )
(418 Points)
Replied 07 July 2012
Yes partner can claim expense against salary received from Partnership firm because it cover u/s 28 and sec 37 dosen't disallow any expediture incurred against salary from partnership.
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