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Is there in limit to Rent and Fuel expenses for Professional


DrSrikanth (Medical officer)     29 March 2010

DrSrikanth
Medical officer 
 24 points

| My Other Post

Hi,

Is there any limit for the rent ,power and fuel expenses that is shown in A-P&L of ITR4 for professionals and business,

Thanks in advance

 

 

Amir (Learner)     29 March 2010

Amir
Learner 
 724 likes  4001 points

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Dear Sir,

If expenses are ligitimate and genuine and are incurred for the purposes of business/profession then there is no cap/limit on them.

Ur attention is invited in case payments are made to the specified persons(like relatives, etc) as mentioned in Sec 40A(2) then AO can disallow to the extent it is unreasonable.

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avater

Sanjay Singh Rana (CA)     29 March 2010

Sanjay Singh Rana
CA 
 27 likes  208 points

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Hi Drsrikant there is NO LIMIT given  for the amount of rent ,power and fuel expenses that is shown in A-P&L of ITR4 for professionals and business,

only exp Which are not connected with business. are disallowed

 

bye take care

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