prasad Nilugal (Sr . Accountant and GST Practitioner . ) 01 October 2019
please refer section 30 to 43D of the income tax act 1961 .
Also any expense only and only for business purpose is allowed as an expenditure by the Income tax act ( capital expenditure & personal expenditure are not allowed ) .
Any such expenditure incurred for the purpose which is an offence or which is prohibited by law , shall not be incurred for the purpose of Business or profession shall not allowed .