Allowablity of expenses
This query is : Resolved
Prasad B Waikar
(Querist)
08 February 2011
Audit firm had conducted tax audit u/s 44AB of hospital which is belongs to brother of one of the partner of audit firm.Audit firm did'nt charge any fees for such audit,hence firm did'nt book any revenue in their books of accounts,can expenses incurred in respect of such audit (ie printing & stationary, travelling etc) allowed as deduction under Income Tax Act 1961?
Guest
Guest
(Expert)
08 February 2011
No, expenses will not be allowed.
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