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.
Menu
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.
Recent Threads
- Free GST Reconciliation Tool in Google Sheets R
- NRI return after due date refund case
- TDS u/s 194J - training honorarium
- WHERE TO REGISTER UNDER PTRC AND PTEC ACTS ?
- Key Corporate Compliance Requirements for Private
- Gst Non Filling Return Notice
- GSTR 2B ( MULTIPLE MONTHS )
- Eway bill generation for export material.
- International Tax clarification UK.
- E way bill expired penalty
Related Threads
CAclubindia
