Allowable Expenses

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 ;