Is agriculture expenditure is allowed under p&l as per it
This query is : Resolved
04 July 2018
sir ,we are a pvt company, we have agriculture income of 9,50,000/- and the expenditure for that is 4,30,000/- & we have the business income of 2,50,000/- after considering the above agriculture exp and the agriculture income is exempted u/s 10(1). we have a doubt while calculate pgbp income is agriculture exp is allowed or disallowed.
CA Ankit R Momaya
(Expert)
04 July 2018
Expense incurred related to Exempt Income in not deductible (refer Sec 14A)
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