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
CA Amit Joshi
(Expert)
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.
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