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Deductions for Domestic Company

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(Querist)
26 September 2019 Hi.

A domestic company has the sole income of interest from FD / savings account.

Whether any expenses like professional fees, Misc exp, bank charges etc can be availed as deduction in computing the total income of the domestic company.

Please advice

Thanks in advance
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
26 September 2019 Yes, those expenses can be shown in P & L account of the company to arrive at net profit which is only taxable.

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