can assessee who is getting remuneration from partnership firm claim certain expenses aginst remuneration received from the firm and he has paid expenses from his personal account which is purely to get remuneration from the firm.

Posted 6 years, 10 months ago by MANOJ SHARMA

No the person can not claim the expenses incurred in getting the remuneration from firm.

Posted 6 years, 10 months ago by Rahul Rai

AS per Sec 14A it will be disallowed

Posted 6 years, 10 months ago by SANJAY KUMAR GANNA

As per sec 10, remuneration is exempt from the partners income to the extent it has been taxed in the firm. Also no where it has been told that expense incurred to earn remuneration are not allowable. Hence i feel that to the extent remuneration is taxable in the hands of partner, he can claim the expense incurred towards the same. However sec 14A will also have a role over here & this also has to be compllied. You can claim the expense like conveyance. Finally i also want to point out that the department will always have a issue on such a claim of expense since they try to harass the assessee. I hope i am clear.

Please let me know the reasons if any body does not agree to it.

Posted 6 years, 10 months ago by Mukesh Solanki

Your Reply:

You need to be logged in to reply.