guest house expenses
This query is : Resolved
Md. Safi Baig
(Querist)
08 January 2009
what are the type of expenses admissible under guest house expenses? and what are the expenses not allowed as guest house expenses?
CA Tilak Raj Sharma
(Expert)
08 January 2009
Please read section 28 to 44 of income tax act.
09 January 2009
Guest house expenses are liable to FBT u/s 115WB(2)(K) of The Finance Act,1994. Certain expenses admissible/inadmissible for that purpose is mentioned in Circular 8/2005 dt 29/8/2005 in questions 91,92,93and 94.
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