Guest House Expenses(like rent,Electricity Etc..) can be allowable as part of Expenses if it is incurred for business Purposes.If yes indicate the sec no also
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Re:Guest house Exp allowable or not ?
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Yes, Guest house expenses are allowable business expenses. They are liable to FBT in previous years bt now no FBT. Allowable/not allowable expenses under guest house has been mentioned in Sec. 28-44 of the Income Tax Act, 1961
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