Creation of Expenses as drawing in the case of individual books of accounts
This query is : Resolved
27 August 2023
whether accounting group can be created in the case of individual
Life insurance expenses ( Drawing) For Life insurance expenses to Claim under section 80 C Mediclaim Expenses ( Drawing) for Health Insurance to claim under section 80 D
Donation Expenses ( Drawing ) for donation paid under section 80 G
Bank expenses ( Drawing) for bank expenses paid
Travelling expenses ( Drawing ) for Travelling expenses
Drawing ( For all other expenses )
Or any other Drawing Expenses can be created for income tax purpose like created Life insurance,donation Expenses etc. Please suggest.
Read more at: https://www.caclubindia.com/experts/ask_query.asp
Life insurance expenses ( Drawing) For Life insurance expenses to Claim under section 80 C Mediclaim Expenses ( Drawing) for Health Insurance to claim under section 80 D
Donation Expenses ( Drawing ) for donation paid under section 80 G
Bank expenses ( Drawing) for bank expenses paid
Travelling expenses ( Drawing ) for Travelling expenses
Drawing ( For all other expenses )
Or any other Drawing Expenses can be created for income tax purpose like created Life insurance,donation Expenses etc. Please suggest.
Read more at: https://www.caclubindia.com/experts/ask_query.asp
CA R SEETHARAMAN
(Expert)
27 August 2023
Yes, to know what for drawings made and to claim income tax deduction.
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