Can any one tell that custodian/ management fees paid for management of our fund by various fund houses is allowable as a incometax Expense?
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Mangement fees / custodian fees
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Think about it this way: Is there any prohibition for claiming the same? All expenses for business purposes are allowable except when specifically disallowed by various provisons of Income Tax Act like 40, 40A, 43B etc.
Yes allowed . All the business expenses are allowed as expense .
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