Important Sections of PGBP Income
What are Deductions
Section 30 Expenses of Building
Section 31 Repairs Insurance of Plant and Machinery and Furniture
Bonus and Commission paid to employees You are here
Interest on Capital Borrowed (Interest on loan)
Bad Debts and Provison for Bad Debts
Payments Ouside India or to Non Resident on which TDS not deducted
Payments to Residents on which TDS not deducted
Cash Payments Greater 10000 are Disallowed
Section 43B Certain Deductions Only if Amt paid
Section 37(1) General Deduction
Important Sections of PGBP Income
Last updated at April 16, 2024 by Teachoo
Note:-
If it is in nature of profit or dividend but disguised as bonus/commission,then deduction not allowed
Also as per Section 43B,
It should be actually paid till Return filing date,otherwise deduction not available(Refer Section 43B)
If declared but not paid till then,then no deduction.
