Dis allowances of expenses

Hi!!

I cannot list all them. But i ll summarise some categories

1) Personal expenses of Directors.

2) Capital Expenditure.

3) Expenditure incurred for violation of law.

4) Income tax.

5) Expenditure s which have no nexus with business.

 

From where i can get full information?

DEAR MR SACHIN The reply by Mr.Ramkumar contains everything. For a business all expenses incurred for running the business is allowable expenses. Anything which is in violation of the law or in the nature of personal expenses it is not allowed. Also the INCOME TAX is not allowed as an expense since the same is tax on your net income. For more details on allowable expenditure you may refer the DIRECT TAX LAWS Regards VENUGOPAL

Thanku sir,

coudl u refer any book for It so that i prepare final of a company.

Read Sections 40, 40(a)(ia), 43 b so u will get a complite understanding of the disallowence.