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Can amount spent be claimed as deduction from Income/Receipts from Business / Profession ?

myITreturn Helpdesk
  • Updated

Yes, amount spent on earning Income from Business/ Profession can be claimed as expenditure and only Net Income is Taxable.

Income From Business, Profession, Professional Income, Tax filing Here we clarified that the amount spent on earning Income from Business/ Profession can be claimed as expenditure and only Net Income is Taxable.

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