Partial business and partial salaried employee
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 July 2013
In last financial year I have earnings as follows
apr2012 to 10 sept 2012 -consultant income abt 3.5 lacs
10 sept 2012 to 31 march 2013- salaried employee income abt 6.5 lacs
apr 2012 to 31 march 2013 - another business income abt Rs. 65,000.00
Can anyone advise how to go abt bifurcating total petrol expense and car depreciation as car was being used for business as well as salaried job.Thanking in advance
apr2012 to 10 sept 2012 -consultant income abt 3.5 lacs
10 sept 2012 to 31 march 2013- salaried employee income abt 6.5 lacs
apr 2012 to 31 march 2013 - another business income abt Rs. 65,000.00
Can anyone advise how to go abt bifurcating total petrol expense and car depreciation as car was being used for business as well as salaried job.Thanking in advance
CA Ashwani Agarwal
(Expert)
21 July 2013
If you were in business then you should have kept your books of accounts and you should have debited petrol expenses in the same. Only the actual expense should be treated as deduction from the gross receipts.
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
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- Form 144 TDS Return Validation Error – Mandatory Fields
- IMS (import of goods) ITC related
- GST ITC as per notification 12/2023- central tax
- Urd purchase entry in tally prime
- GSTR9 Annual Return
- Applicability of tax on invoice
- Advances to related party
- Capital Gains Tax on Inherited Mutual Fund
- LLP audit and disclosure
- Ito add credit side of bank
- Employee secondment
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
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
