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Shop construction expenses
can we claim shop construction expenses in p nd l account
Replies (5)
Quick Summary
No. It will be debited to shop/ property account.
Since its personal expenditure not relevant to business you can't claim deduction as an expense in profit and loss account. No, you cannot claim deduction of Income Tax paid, interest on income tax paid.
You can't, same is capitalised
You can only claim depreciation on such cost.
It's a capital expenditure but you can segregate it and claim it.
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