Allowed expenses as deduction

Others 145 views 2 replies

Hi,

 

I am a self employed person, I file ITR3 (Business & profession). I wanted to know what all official expenses can i take as deduction from my gross income. Expenses such as Travelling, Stationaries, Subscripttions, Client meeting cost (Cafes & dinners etc), softwares & subscripttion, Telephone charges, Internet Charges etc. Which all can i take it as deduction and what is the limit for each category... is there a table i can refer to?

Replies (2)
No more limit for any business expenses...
But, Consider Yourself which expenditures is reasonable in Your business and Profession...
all expenses incurred towards earning of profit from business can be claimed even it is more than gross receipts


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register