it assess sales turnover rs:35 lacs profit declared rs:3,25,000/- show in it returns.but assess domestic expenses (house expenses)rs:4 lacs in books.
question:
assess profit declared rs:3,25,000/- and house expenses rs:4 lacs show in books allowed in it act.
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It query for profit and house expenses
Replies (1)
House expenses not allowed in IT Act. it needs to be shown as drawings from capital account.
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