Various types of expenses

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Avik Banerjee (Querist)
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09 April 2016 sir,
I have to asked and question that there are various types of expenses in a company such as staffwelfare, Business promotion, conveyance, Tour and travelling,please tell me under which act of Income tax we take these expenses

Thanking U
Avik Banerjee

Sathish M

Sathish M (Expert)
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09 April 2016 You meant saying under which section the above expenses are considered under income tax act. For allowances or disallowances of expenses you may refer to provisions of section 14A, 37, 40(a)(ia), 40A(3), 43B etc.

Importantly you need to make a distinction between a revenue expenditure and capital expenditure.

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