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Taxation of innn
my honourable persons,in income tax what to do the expenses???
Replies (9)
Quick Summary
Purchase taxes is set off against sales tax during filing. I am not an expert in filings.
Oh ok thank you
Expenses are deductible and non deductible under certain conditions
I agree with yasaswi gomes
Your welcome
Anytime bro
Thank you
For individual wage-earners, the most commonly-used deductibles are mortgage interest payments, state and local tax payments, and charitable deductions. There is a deduction for out-of-pocket medical costs, but only for costs that exceed 7.5% of the taxpayer's adjusted gross income.
Thanks for the information
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