Classifying Business Expenses: Day-to-Day Costs Are Revenue, Not Capital; Government Payments Don't Define Classification.

Classifying Business Expenses: Day-to-Day Costs Are Revenue, Not Capital; Government Payments Don't Define Classification. https://www.taxtmi.com/highlights?id=30045 If the expenditure is incurred for day-to-day business activities of the assessee and not for acquiring some asset it has to be allowed as revenue expenditure. - Mere payment to government agencies would not make any expenditure capital/revenue - AT en-us Fri, 01 Jul 2016 12:44:56 +0530 Fri, 01 Jul 2016 12:44:56 +0530 TaxTMI RSS Generator Classifying Business Expenses: Day-to-Day Costs Are Revenue, Not Capital; Government Payments Don't Define Classification. https://www.taxtmi.com/highlights?id=30045 If the expenditure is incurred for day-to-day business activities of the assessee and not for acquiring some asset it has to be allowed as revenue expenditure. - Mere payment to government agencies would not make any expenditure capital/revenue - AT Highlights Income Tax Fri, 01 Jul 2016 12:44:56 +0530 https://www.taxtmi.com/highlights?id=30045