Allowable Expenses

Tuesday, December 10, 2013

Allowable Expenses -

                    The following are the allowable expenses out of the business income;

1)Rent of premises;
2)Tenant,s Repairs;
3)Interest on Borrowed Capital;
4)Special Reserve created with the permission of central government,amount not exceeding 10% of total income;
5)Insurance premium insuring assets;
6)Current repairs to building, machinery etc;
7)Depreciation and Obsolescence;
8)Rates and Taxes (Land revenue & local taxes);
9)Bonus to Employees;
10)Bad Debts after fulfilling certain conditions;
11)Expenditure on Scientific Research;
12)Expenditure in Educational Institution and Hospitals;
13)Expenditure on Training of Citizens of Pakistan;
14)Other Business Expenditures;
15)Expenditure of Trade Delegations;
16)Subscription to Trade Assocations ;

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