Exp. Related in Personal Nature

This query is : Resolved 

24 August 2009 A Prop. Use 20% his Vechicle in business
if he paid insurance primium on this vehicle
if any ins. exp. disallowed
so which in section exp. disalloed

in Case of Depriciation same case

24 August 2009 Only 20% of Insurans premium and depreciation will be allowed because as per sec 37(1),Expenditure cannot be of personal nature.Only business related exp is allowable.



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