Comment on Taxation Simplified
commented on
27 Feb 2014, 10:18 PM
Aijaz,
As long as expense is something that you are incurring towards trading, there is no limit on how much expense. But the issue is if you show 10lk expense and tomorrow for any reason Income tax officer rejects it, it can be an issue then. So it is best to not over inflate any expense, and best to keep a proof of any such expense and document the reason behind it, this is good enough, your CA will also need only this while filing your returns.
Cheers,