A to Z Ready Reckoner of Business Expenditure

Full deduction of legitimate business expenditure is a key area of tax saving for business and professional assessees. Some items of expenditure are fully deductible; others only partially so; and still others not deductible at all. The deductibility also sometimes depends on how an expenditure is classified or presented.

The deductibility status of various items of business expenditure is governed not merely by the Income Tax Act, 1961 and the Income Tax Rules, 1962, but also by hundreds Press Notes, Circulars and Notifications in the official gazette, and thousands of decisions of the Supreme Court and various High Courts. What you therefore need to know is the settled deductibility status of different items of business expenditure. Never an easy task - till now.

This book by two of India's leading taxation experts provides you all these answers which can save you hundreds of thousands in taxes on your business or professional income.