Monday, July 03, 2006

Why are expenses not allowed for salaried class?

For the Asking
Is there discrimination between the salaried and businesses?
Why are expenses not allowed for salaried class, whereas the business class enjoys limitless benefit of expenses?
Pooranchand Gupta, Lucknow

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1 comment:

G. Babu said...

The tax is only on income and it has nothing to do with your expenses. That is why it is called inocme tax.

Whereas for business it is tax on your profit and not on your income.Profit is income - Expenses.So in business expenses comes into play .

That is the difference.