Payment of fees to a lawyer engaged by a firm included/excluded in National Income.

541 viewsDecember 11, 2023National Income and related aggregates

Anurag Pathak27.10K December 7, 2023 0 Comments

Anurag Pathak Changed status to publish December 7, 2023

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Anurag Pathak27.10K Posted December 11, 2023 0 Comments

No,

It is an intermediate expenditure for the firm because it involves the purchase of services by one production unit (firm) from another production unit (lawyer). So, it is deducted from the value of the output of the firm to arrive at the value added. So, it is not included in the national Income.

Anurag Pathak Changed status to publish December 11, 2023

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