16 April 2010
I HEARD THAT IF SOMEONE HAS INCOME BELOW MINIMUM TAXABLE LIMIT, THEN HIS TELEPHONE BILL AND ELECTIRCITY BILL CHARGES FOR THAT PARTICULAR YEAR SHOULD BE LESS THAN RS. 14000/-? IS IT TRUE?
16 April 2010
The only requirement of law is that whatever are your expenses if your income is not sufficient to cover the expenses then you must have a proper source of the receipt. If the source of receipt is proved no one can ever challenge any amount of expenses.
CAclubindia
