Poonawalla fincorp
Poonawalla fincorp

sundry balance w/f & drawings???????

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(Querist)
25 July 2010 can anyone tell me tht sundry balance w/f & drawings are allowable expenditure according to incometax ?????or not????????
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
25 July 2010 Sundry balances written off of trade balances is an allowable expenses

Drawings being personal expenses are not allowable expenses.
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Murtaza I Bhagat

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Murtaza I Bhagat (Expert)
25 July 2010 agree with adityaji,
sudry balance you can written off but about drawings,you can not claimed as expenditure or as allowable expense.
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