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RE:Expences allowed in a Proprietory FIRM
by Amitabh on May 01, 2008 07:23 PM

All expenses pertaining to business are allowed.None of the personal expenditure will be allowed.There is no hard and fast rule for apportionment.It depends on the facts and circumstances of each case.If you maintain a log or record,it will be easier for you to establish your claim in case your return is taken up for scrutiny.

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