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What are the expenses can I claim as Business Expense ?

Others 250 views 1 replies

Hello experts, 

 

what are those expenses, can I claim as business expenses? , my main source of income is under 194H. 

1. Buying a new office can be shown as business expenses?  or only repairing, maintenance of old office space is allowed under business expense head?

2. Buying an expensive mobile for both personal&business uses comes under business expenses?

3. what about the purchase of a wristwatch, work clothes?

Replies (1)
1. Buying new office cannot be shown as expenses. Repairing, maintenance can be shown as expenses.

2. Buying mobile is asset cannot be shown as expenses

3. No.

Expenses are those items which are indirectly related to your business but not assets


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