Why are companies allowed to deduct all expense before calculating income tax, but individuals not allowed to do the same?
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Why are companies allowed to deduct all expense before calculating income tax, but....
Replies (4)
Quick Summary
In case of individuals they can also claim all expenses like companies if they file there return for profit or gains from businesses or professional and audit case..
By individual do you mean salary Income or Business.
and also what Type of expense you are talking about. if you can provide with example.
and also what Type of expense you are talking about. if you can provide with example.
I mean an individual salaried person cannot claim depreciation/ part depreciation on his car which he uses to travel to office while a businessman who has his car under his company's name can claim depreciation.
Why like that?
My concern was to elaborate your query so experts can solv your query easily.
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