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computing income
what are the expenses and payments disallowed whilecomputing income from business and profession
Replies (2)
An expense could be disallowed for the following reasons:
- Any tax amount deductible on certain expenses like TDS wasn’t deducted while making the payment.
- The expenditure is not associated with the conduct of such business or profession.
Taxpayers making cash payments for their goods or services are allowed as expenditures under this provision if the sum of such payment is less than Rs. 10,000.
https://www.indiafilings.com/learn/expenses-disallowed-under-income-tax/
you can refer following sections
section 40(a), section 40(b), section 40(ba), section 40A
section 40(a), section 40(b), section 40(ba), section 40A
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