Question

______tax is allowed as a deduction while computing the business income​

Answer 1

Answer:

business

Explanation:

Any expenditure (not being expenditure of the nature described in sections 30 to 36) and not being in the nature of capital expenditure or personal expenditure of the assessee, laid out or expended wholly and exclusively for the purposes of the business or profession, shall be allowed as deduction in computing the income chargeable under the Head "Profits and Gains of Business or Profession".

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Answer 2

Indirect tax is allowed as a deduction while computing the business income. For example , GST