Expenses against speculation gain under income from business & profession
This query is : Resolved
13 September 2014
hiii
my client has made huge speculation gain in past 2 years. and his it returns yet to be filled. my query is that my client has also made some expenses like salary, office rent, internet charges, electricity charges and like that. can my client claim these all expenses against speculation gain? he has made only for speculation business only. thare was no any other business activity. and if yes than how can i show under incom
Nikhil Kaushik
(Expert)
13 September 2014
yes you can charge expenses against such income.
Claim the actual expenses as incurred as long as they have been incurred to such income
Claim the actual expenses as incurred as long as they have been incurred to such income
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