Can i show my expenditure ?
This query is : Resolved
29 July 2010
My income is based on Fees for Professional Or Technical Services. Can i show my expenditure against my income ? Thanks.....
29 July 2010
yes of course ,from the income earned from business/profession expenses are always deductible but it should be related to earning of those income ,for eg against your professional income /receipts u cannot claim deduction for your household expenses
29 July 2010
Expenses incurred in relation to rendering of your professional services on which you earn fee, can be claimed.
You need to maintain appropriate bills/supportings for expenses claimed.
You need to maintain appropriate bills/supportings for expenses claimed.
30 July 2010
you can claim those expense which are incurred for the purpose of generating the income from the business..This is a general concept only
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