INCOME FROM BUSINESS OR PROFESSION

This query is : Resolved

Manjunath (Querist)
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15 September 2010 plz tell me The difference b/w admissiable expensess and inadmissiable expensess. I am confused in understanding so plz....... urgent
Plz help me out

CMA Arif Farooqui

CMA Arif Farooqui (Expert)
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16 September 2010 Admissible expenses are covered U/s 30 to 37 example are interest on loan, depreciation, insurance, repair etc.
inadmissible expenses are those which are not mention in above said sections such as personal expenses, income tax, wealth tax etc.
there are big topics and cant be explain fully here, so please refer tax book and read above said sections.