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
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Is there in limit to Rent and Fuel expenses for Professional
Replies (2)
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.
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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