Applicability of expense
This query is : Resolved
25 February 2010
person running business of providing securities -persons where required. can there is any provision in law that he must have 60% expense as a salary of employee worked as security personnel. -please reply. Thanks, dipti
25 February 2010
There is no such provision in Income Tax Act which defines minimum limit of any expenses. so if salary is less than 60% and other exp. is more yhan also they all allowed in Income Tax.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- Section 194JA & JB Income which ITR Form to use
- Gift of mutual fund units to daughter
- Under construction property in ITR
- Pass word to open justification report for Q1 for FY 2026-27
- Scrutiny and reopening of past returns
- PPF interest-As Exempt Income disclosure
- Upload Level ValidationITR3Category of Defect B/D
- Not able to file ITR
- Building tax payment deduction in rental Income
- Booth for sales promotion
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
