what will be the treatment of
1. audit fees including fees regarding income tax appeal
2. legal charges including fees for income tax appeal
under the category "profit n gain from business n profession"???
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income tax doubt
Replies (5)
deductible expenses
both will be deductible. but its better to show audit fees and fees regarding income tax appeal seperately as both are rendered in different capacity.
both will be deductible...
Obviously, both are business expenditures and hence deductible.
deductible....
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