Hi everyone.
I am a self employed professional. Is a foreign trip part of expenses & hence deductible from professional income? Secondly, can one claim depreciation on any luggage purchased? If yes, how much?
Thanks,
VINEET VISHNU
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Deduction of foreign travel from income
Replies (1)
Hi Vineet Vishnu
Foriegn Trip expense is a part of Expense of your professional and it is deductable/reduced While arriving the Net Professional Income.
Depreciation cannot be claimed on Luggage purchased hence it is not an Asset.
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