Expenses deductible for advocate

Hi,

Pls tel me which expenses are deductible against professional fees received by Advocate ?

Replies (4)

Following are the expenses deductible against the Professional Income received :-

1) Salary to Staff (Bonus also can be shown)

2) Depreciation on Fixed Assets

3) Travelling and Conveyance Exps

3) Electricity Exps

4) Mobile / Telephone Exps

5) Newspaper & Periodicals Exps

6) Cleaning Exps

7) Printing and Stationery Exps.

 

Regards,

Devendra Kulkarni

 

Thanks for reply.

Pls explain me if I am not maintaining books can I claim depreciation & vehicle insurance in ITR4 ?

Actually in the case of Professionals, it is mandatory to maintain Books of Accounts u/s 44AA. 

 

Regards,

Devendra Kulkarni

I believe as per Sec 44AA in case of professionals if gross receipts exceeds Rs.150000/- in all the three preceeding previous years then only it is required to maintain books otherwise not.

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