income from business inadmissible expenses u/s
Answers
Answer:
capital gains are taxable under____section
Answer:
- Rent, Rates, Taxes, Repairs And Insurance For Building [Section 30]
- Repairs and insurance of machinery, plant and furniture [Section 31]
- Depreciation [Section 32]
- Investment allowance in Notified Backward Area in Andhra Pradesh, Bihar, Telangana or West Bengal [Section 32AD]
- Tea/Coffee/Rubber Development Account [Section 33AB]
- Site Restoration Fund [Section 33ABA]
- Expenditure on Scientific Research [Section 35]
- Expenditure for Obtaining Right to use Spectrum for Telecommunication Services [Section 35ABA]
- Expenditure for obtaining Licence to operate Telecommunication Services [Section 35ABB]
- Deduction in respect Of Expenditure On Specified Business [Section 35AD]
- Payment to Associations and Institutions for carrying out Rural Development Programmes [Section 35CCA]
- Expenditure on Agricultural Extension Project [Section 35CCC]
- Expenditure on Skill Development Project [Section 35CCD]
- Amortisation of Preliminary Expenses [Section 35D]
- Amortisation of expenditure in case of Amalgamation / Demerger [Section 35DD]
- Amortisation of Expenditure under Voluntary Retirement Scheme [Section 35DDA]
- Amortisation of Expenditure on Prospecting etc., for Development of Certain Minerals. (Section 35E)
- Insurance Premium [Section 36(1)(i)]
- Bonus or Commission to Employees [Section 36(1)(ii)]
- Interest on Borrowed Capital [Section 36(1)(iii)]
- Discount on issue of Zero Coupon Bonds [Section 36(1)(iiia)]
- Employer’s Contribution to National Pension Scheme (NPS) [Section 36(1)(iva)]
- Contribution towards Approved Gratuity Fund [Section 36(1)(v)]
- Employees’ Contribution to Staff Welfare Schemes [Section 36(1)(va)]
- Allowance in respect of Dead or Permanently useless Animals [Section 36(1)(vi)]
- Bad debts [Section 36(1)(vii)]
- Provision for Bad and Doubtful Debts relating to Rural Branches of Commercial Banks [Section 36(1)(viia)]
- Transfer to Special Reserve [Section 36(1)(viii)]
- Family Planning Expenditure [Section 36(1)(ix)]
- Securities Transaction Tax [Section 36(1)(xv)]
- Commodities Transaction Tax [Section 36(1)(xvi)]
- Expenditure by Co-Operative Society for purchase of Sugarcane [Section 36(1)(xvii)
- General Deductions [Section 37]
Explanation:
Expenses Allowed as Deductions against Profits and Gains of Business or Profession [Section-30-37]
Rent, Rates, Taxes, Repairs And Insurance For Building [Section 30]
Repairs and insurance of machinery, plant and furniture [Section 31]
Depreciation [Section 32]
Investment allowance in Notified Backward Area in Andhra Pradesh, Bihar, Telangana or West Bengal [Section 32AD]
Tea/Coffee/Rubber Development Account [Section 33AB]
Site Restoration Fund [Section 33ABA]
Expenditure on Scientific Research [Section 35]
Expenditure for Obtaining Right to use Spectrum for Telecommunication Services [Section 35ABA]
Expenditure for obtaining Licence to operate Telecommunication Services [Section 35ABB]
Deduction in respect Of Expenditure On Specified Business [Section 35AD]
General Deductions [Section 37]
Deductions from Gross Income under the Head 'Profits and Gains of Business or Professions' [Section 30 to 37]1. Rent, Rates, Taxes, Repairs And Insurance For Building [Section 30]
In respect of rent, rates, taxes, repairs and insurance for premises, used for the purposes of the business or profession, profession, the following deductions shall be allowed:
where the premises are occupied by the assessee: as a tenant — the rent paid for such premises; and further if he has undertaken to bear the cost of repairs to the premises, the amount paid on account of such repairs; otherwise than as a tenant — the amount paid by him on account of current repairs to the premises; any sum paid (whether as owner or tenant) on account of land revenue, local rates or municipal taxes; any insurance premium paid (whether as owner or tenant) in respect of insurance against risk of damage or destruction of the premises.
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