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..
Message likes :
1 times
24 August 2009
If you can seperate those exp then above is right else your 100% will be disallowed.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Gst credit note by supplier
- Reward for festival
- 18% Rent a cab
- Missed uploading GST Invoice
- Movement of goods by packers and movers - type of sale - Reg.
- Gratuity paid to legal heir above 20 lakh is taxable or not
- Closer of business and itc of capital goods
- RCM and same line
- ARCA LOGIN
- Accounting Treatment of Civil work to install PORTA Cabin for office use
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
