Welcome to Monday Corner, an initiative from Tax Publishers…

Quiz for the week (15 Apr 2024) :

Queen Products LLP., is engaged in manufacturing activity. It incurred following expenses: (i) Monthly lease rent for premises Rs.30,000 per month to a registered charitable trust throughout the financial year 2023-24. One partner of Queen Products LLP is a trustee of the trust. Similar space is let out by the trust to another tenant for monthly rent of Rs.20,000; (ii) Salary paid to working partner in charge of bank operations alone (as per deed) Rs.50,000 per month as authorised by the partnership agreement.

Decide how to treat the expenses as regards their allowability for AY 2024-25.

Kindly email your answer on or before 19.04.2024

Email your reply at quiz.taxpub@gmail.com


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