Sec.37
This query is : Resolved
Sreekumar Narayanan
(Querist)
19 December 2010
Sir,
How will you identify an expense covered by sec.37. Please clarify me whether the following expenses are allowed under Sec.37 or some other section of the income tax,
1) Cost of goods sold
2) Labour charges
3) Carriage in wards
4) CST paid on Interstate purchase of materials
Thanks in Advance.
With regards
Sreekumar.N
How will you identify an expense covered by sec.37. Please clarify me whether the following expenses are allowed under Sec.37 or some other section of the income tax,
1) Cost of goods sold
2) Labour charges
3) Carriage in wards
4) CST paid on Interstate purchase of materials
Thanks in Advance.
With regards
Sreekumar.N
20 December 2010
All are covered u/s 37.
Rahul Vora
(Expert)
20 December 2010
Yes, all are covered u/s 37 as biusiness expense
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