04 February 2013
im filing individual return my client paying general insurance premium for its vehicle wnt to know if it is alowed as deduction as business expenditure or not..
04 February 2013
If such vehicle uses for the purpose of business only then allowable as deduction. Otherwise i.e uses for personal use only then not allowable. In case partly using for business and partly using for personal then proportinate of business use of expenses is allowable.
CAclubindia
