Under the head Salaries:
- Entertainment Allowance (Section 16(ii))
- Tax On employment-Profession Tax (Section 16(iii))
Under the head Income From House Property
- Local Taxes by authorities paid by owner (Section 23(1), proviso)
- Standard Deduction of 30% (Section 24(a))
- Interest On Borrowed Capital (Section 24(b))
Under the head Capital Gains
- Expenditure incurred wholly and exclusively in connection with transfer of capital asset
- Cost of Aquisition of Capital Asset and improvements
Under the head Income from Other Sources
- Any reasonable sum paid to realise the divident/Interest on securities
- Repairs, Insurance and depreciation of buildings, plant and Machinary and furniture.
Posted 3 years, 4 months ago by CA Pulkit Sharma
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