RAKESH JAIN (RETIRED COMPUTER PROFESSIONAL) (369 Points)
08 February 2011Dear All,
I just want know if I can claim IT rebate for the professional fees paid to my Chartered Accountant. If yes, under which section I can claim it & how can I get the details of the section.
Thanking you all. Best regards, RAKESH
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 08 February 2011
deductible from business income under legal expenses,
RAKESH JAIN
(RETIRED COMPUTER PROFESSIONAL)
(369 Points)
Replied 08 February 2011
Thanks for your reply. My source of income is only Interest earned on FDs & dividends earned on shares. Can I still file my IT return to claim rebate on professional fees paid to CA?
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 08 February 2011
not adjustable in case there is no business income. its capital expenditure now.
Karan Teli
(Life Is just an Illusion...!!)
(4573 Points)
Replied 24 February 2011
such expenses are only deductible in case you have a business income and you need to deduct TDS too on such payment if it exceeds the limits of 194J...
CA Himanshu Bansal
(Risk Manager)
(2345 Points)
Replied 25 February 2011
| Originally posted by : RAKESH JAIN | ||
 |
Thanks for your reply. My source of income is only Interest earned on FDs & dividends earned on shares. Can I still file my IT return to claim rebate on professional fees paid to CA? |
 |
As clarified by all, it can be claimed ONLY if you have a business income, under the head " Profits and Gains from Business or Profession "
CAclubindia
