Section 24: Business Losses from Fixed Expenditures Allowable for Deduction Despite No Business Cessation Under Income Tax Act.

Section 24: Business Losses from Fixed Expenditures Allowable for Deduction Despite No Business Cessation Under Income Tax Act. https://www.taxtmi.com/highlights?id=47039 Deduction u/s. 24 - allowability of certain fixed expenditure to maintain its existence and run business operations - There is no complete cessession of business of the assessee and in order to maintain the establishment the assessee has incurred expenditure which has been claimed to be set off - allowable as business loss en-us Fri, 07 Jun 2019 07:28:28 +0530 Fri, 07 Jun 2019 07:28:28 +0530 TaxTMI RSS Generator Section 24: Business Losses from Fixed Expenditures Allowable for Deduction Despite No Business Cessation Under Income Tax Act. https://www.taxtmi.com/highlights?id=47039 Deduction u/s. 24 - allowability of certain fixed expenditure to maintain its existence and run business operations - There is no complete cessession of business of the assessee and in order to maintain the establishment the assessee has incurred expenditure which has been claimed to be set off - allowable as business loss Highlights Income Tax Fri, 07 Jun 2019 07:28:28 +0530 https://www.taxtmi.com/highlights?id=47039