Hi
In the context of repairs and maintenance, I have paid 1000/- for repairing a computer where there is an ERP and bookkeeping is done on it. If I paid the tech guy with cash and recorded it, will I get a corporate tax benefit?
Txs
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Tax planning and benefits
Replies (5)
Quick Summary
Yes, you can debit it to maintenance expenditure.
It's maintenance and repairs are tax exempted and not deductible?
Deductible against profits under P&L acc.
Ok! I got it!! Daily operating costs as per AS 10 are expensed.
Correct.
Good Luck.
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