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Are Lawyer fees and Court fees deductible from Taxable Income?

1564 views 4 replies

PB

41 Points Posted on 24 March 2022

Hello -
Are Lawyer fees and Court fees deductible from Taxable Income? I spent about Rs.75000 as court fees and Rs.25000 as lawyer fees from my personal savings. This is property related expense - to get legal heirship from the court (as there was no will).
Please advice.

Thank you.

Replies (4)

prasad Nilugal

GST Practitioner & Accounts

15097 Points Posted on 24 March 2022

Only Business related expenses are allowed
. Is this property stands in your Balance sheet ?.

JJJ

Need help

695 Points Posted on 24 March 2022

If it's for private / personal property, then you can include it in the cost of acquisition when / if you sell it and calculate your capital gains.

But generally there will be no immediate deduction for the current tax year.

PB

41 Points Posted on 25 March 2022

This is my personal flat (home). Not business related.

PB

41 Points Posted on 25 March 2022

This is my personal flat (home). Not business related.

This is my personal flat (home). Not business related.

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