Expense deductable against professional fees

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Prasad Balakrishnan (Querist)
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25 September 2022 A practising doctor has a revenue of 1.3Cr during XXXX year. What are the various types of expenses that can be written off to declare a profit of 58%of revenue. Kindly guide. He has 1.5l as depreciation.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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25 September 2022 All the expenses actually paid for the practice are deductible, including car loan interest etc. But any expense more than Rs. 10,000/-paid by cash will be disallowed. Note that tax audit report would be required to be filed on or before filling the ITR...

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