Sumanta Das Gupta (Accountant) (310 Points)
23 August 2011Can anyone please let me know the maximum amount of Miscellaneous Expenses allowed for income tax purposes for the Assessment year 2011 - 2012 ?
Regards.
Santosh Ramaseshan
(CA, CS )
(110 Points)
Replied 23 August 2011
There is no limit for allowablity of Business expenditure. Please go through Section 37 of Income tax act 1961
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