Inadmissible Expenses [Section 58]
(i) Personal expenses
(ii) Wealth – tax
(iii) Expenses of the nature described in Section 40 A.
(iv) Interest and salary payable outside India, if tax has not been paid or deducted at
source.
(v) No deduction shall be allowed in respect of winnings from lotteries, cross word
puzzles, card games, races including horse race, gambling, betting, etc.
175 Comments