Can i show my expenditure ?

This query is : Resolved

Vijay Kr. Mishra (Querist)
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29 July 2010 My income is based on Fees for Professional Or Technical Services. Can i show my expenditure against my income ? Thanks.....

Nitin

Nitin (Expert)
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29 July 2010 yes of course ,from the income earned from business/profession expenses are always deductible but it should be related to earning of those income ,for eg against your professional income /receipts u cannot claim deduction for your household expenses

CA. Pradeep Nayak

CA. Pradeep Nayak (Expert)
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29 July 2010 Expenses incurred in relation to rendering of your professional services on which you earn fee, can be claimed.

You need to maintain appropriate bills/supportings for expenses claimed.

CA.ViVeK M ACA

CA.ViVeK M ACA (Expert)
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30 July 2010 you can claim those expense which are incurred for the purpose of generating the income from the business..This is a general concept only