Can I claim deduction for my personal and household expenditure while calculating my taxable income or profit?
Can I claim deduction for my personal and household expenditure while calculating my taxable income or profit?
No, you can not claim deductions for your personal and household expenditure under taxable income.
No, you cannot claim deduction of personal expenses while computing the taxable income.
While computing income under various heads, deduction can be claimed only for those expenses which are provided under the Income-tax Act.
Nitin