I file my income tax returns every year using ITR-2. Till last year my income was in the tax-free slab; but since this year I am in the 200001-500000 slab. So I will be paying self assessed taxes for the first time in my life. I wish to know whether subsistence (necessary for living) expenses such as monthly bills for phone/internet, electricity, cooking gas, basic grocery expenses (milk etc) can be added up for deduction of tax from total income?
If yes, in which place in ITR-2 can these expenses be filled in/shown? All my income is in schedule OS as I fall in the other sources category. do the subsistence expenses get covered under section 57? Please help. Please do give replies.
CAclubindia
