04 July 2015
I am doing transport business i.e having car hiring to a company, pertol & driver expenses borne by me. the co. will pay me monthly charges on km basis. pls advise me is there any provision under IT to write off expenses on percentage basis like in case of house rent receipt. & also guide which expenses i will take in to consideration. Is depreciation is allowed. pls guide
04 July 2015
No percentage basis expenses is allowed in this business. You can claim driver salary, fuel charges, repair and maintenance expenditure and depreciation.
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