Exp. Related in Personal Nature
This query is : Resolved
CA VIKASH AGARWAL
(Querist)
24 August 2009
A Prop. Use 20% his Vechicle in business
if he paid insurance primium on this vehicle
if any ins. exp. disallowed
so which in section exp. disalloed
in Case of Depriciation same case
A Prop. Use 20% his Vechicle in business
if he paid insurance primium on this vehicle
if any ins. exp. disallowed
so which in section exp. disalloed
in Case of Depriciation same case
24 August 2009
Only 20% of Insurans premium and depreciation will be allowed because as per sec 37(1),Expenditure cannot be of personal nature.Only business related exp is allowable..
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24 August 2009
If you can seperate those exp then above is right else your 100% will be disallowed.
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