I am 20 year old My Source of income is Tailoring Shop For A.Y 15-16 My Net Income is 271000 I am Paying 2000/- for Filling My Return to a Audit Firm. My Question Is Can i Claim 2000/- as my Expenses against 271000/- and escape from Tax.
3 Replies
Dhaval Joshi
(Tax Consultant)
(64 Points)
Replied 19 March 2016
According to me, you can claim that expense as consulting and TRP fees exp. and it is allowable as an expense due to same nature as expense.
Swami Ayyappa Nuli
(TAX ADVISOR & CONSULTANT AT G.S.T SUVIDHA CENTER)
(1372 Points)
Replied 20 March 2016
You can not claim Return filing fee as expense against your Business income to reduce tax liability for the reason being Return filing fee paid by you is not exclusively for business income but also for all other sources.
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