Income Tax 2022-2023

This query is : Resolved

Sujana (Querist)
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18 April 2023 Is transfer to staff welfare fund expenditure is allowed as deduction in PGBP ?
Note:Staff welfare expenses are allowed as deduction

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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18 April 2023 Yes, it's allowed...
....

Sujana

Sujana (Querist)
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18 April 2023 But sir Transfer to Staff welfare fund is given as appropriation of profits then what does it mean?

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CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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18 April 2023 In such a case it's not allowed as deduction.
It can be claimed as deduction when it's spent.

Sujana

Sujana (Querist)
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18 April 2023 Thank you Sir,
1)Profession :- CA
Expenditure
To Purchase of Books
(Annual Publication)
2) profession Doctor Payments
By Municipal Taxes
for Properties
Sir what will be it's treatments for Income from profession
Note:- No related Adjustments are there

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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18 April 2023 1 It's allowed.
2 Municipal tax for clinic and hospital allowed.

Sujana

Sujana (Querist)
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18 April 2023 Sir,Then can we show it as professional payment and claim 40% Depreciation on it or only Deprecation we can claim?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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18 April 2023 Show it as professional payment.

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Sujana

Sujana (Querist)
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18 April 2023 Repairs to Building: Assessee is running the business from a rented house and according to the agreement, he need not spend the money for repairs since as per the agreement only owner is responsible for repairs, so it is not allowed as deductions
. i) Current repairs for rented building: It is not allowed as deduction.
ii) Capital repairs for rented buildings: It is allowed as deduction.
iii) Capital expenditure repairs for rented building: Though assessee is not the
owner of the building, but still as a tenant he can claim repairs on buildings

Sujana

Sujana (Querist)
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18 April 2023 But as per the agreement he shouldn't pay but paid then how and on which he will be allowed deduction?
Sorry sir for continuously texting

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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19 April 2023 It's allowed as he has spent for repairs .
No need to look into the agreement.