CAF-2 · Chapter 7 · Question 6 of 15
Which of the following payments made by an Association of Persons (AOP) to one of its members is an admissible deduction when computing the AOP's income from business?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: D) D) None of the above.
Explanation
Under Section 21, any profit on debt, brokerage, commission, salary, or other remuneration paid by an Association of Persons (AOP) to a member of the association is strictly an inadmissible deduction.
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