professional receipts
This query is : Resolved
04 March 2017
One of my client is a professional ....his income is thru professional receipts...he has purchased a new house...now the expenses which he is incurring towards painting , furnishing and other related expenses ....can he claim those as expenses in his PL account .
04 March 2017
No, he can not claim deduction for his personal expenses
04 March 2017
Cannot claim in professional income, it is separate head of Income so its need to be considered in repairs & maintenance u/s.24. but furnishing is capex so it is addition of asset not an expenses
05 March 2017
It's not businesses expenses, so above expenses not eligible to claim income from profession.
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