what deductions are allowed to a businessman in computing profits? specify the expenses
Answers
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]