House expenses allowed

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B.com
3025 Points Posted on 19 December 2020
I.t Assess cash withdrawal(house expenses) from capital account Rs:4 lacs one finicial year.
question:
Assess Rs:4 lacs house expenses allowed under I.t. act.
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On 19 December 2020 at 17:54 Report
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Quick Summary
This discussion explores whether a cash withdrawal of Rs 4 lacs for house expenses, taken from a capital account within one financial year, is permissible under the Income Tax Act. The core question is whether such expenses can be claimed as a deduction from business profit. It highlights the general principle that personal expenditure is not allowed as a deduction.

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Nil
2791 Points Posted on 19 December 2020

PERSONAL EXPENDITURE NOT ALLOWED AS DEDUCTION FROM BUSINESS PROFIT.

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On 19 December 2020 at 18:34
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Tax consultant
5895 Points Posted on 19 December 2020
House expenses as in?
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On 19 December 2020 at 23:17

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