Deduction of expenses
This query is : Resolved
20 August 2019
My income mainly consists of :
1) Interest income from deposits
2) Capital Gains from stock market
To earn the above income, I have to spend on Mobile bills, Internet bills, Petrol bills etc.
Can I deduct these expenses from my income to reduce tax ?
Thanks
1) Interest income from deposits
2) Capital Gains from stock market
To earn the above income, I have to spend on Mobile bills, Internet bills, Petrol bills etc.
Can I deduct these expenses from my income to reduce tax ?
Thanks
23 August 2019
Yes, to the extent they are related to earning the relevant income.
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