taxation
This query is : Resolved
01 August 2010
my client is temporaily trading in land & making profit.whether land development expenses & compensation to seller excluding that mentioned in the sale deed is allowable expenses in income tax? is there any other expenses head in this category?
02 August 2010
Activities in nature of trade or adventure in nature of trade is income from business or profession.
Expenses relating to the business activities are allowable expenditure.
Expenses relating to the business activities are allowable expenditure.
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