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Allowable expense

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(Querist)
18 April 2012 Member if a trader make his own pancard is it allowable exp. in pgbp. Is any other income tax exp allowable in pgbp.
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
18 April 2012 A PAN card expense is personal in nature. Even if he is not doing the business he would be requiring the same. It does not cancelled when the business is being closed.
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Only expenses directly and exclusively incurred for the purpose of business are allowable.
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ca cs shriyans jain

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ca cs shriyans jain (Expert)
18 April 2012 I wholly agree with the expert.
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Rahul kumar

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Rahul kumar (Querist)
18 April 2012 Than which txpe of incometax expense allowable in pgbp
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C A S.S.Agarwal, M.Com.,LL.B,

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C A S.S.Agarwal, M.Com.,LL.B, (Expert)
19 April 2012 I agree with the expert
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