Which expenditure is allowed to be deducted while calculating the income from illegal business?
A. Expenses incurred due to infringement of law.
B. Penalties and fines
C. Ordinary business expenses
D. All of the above.
Answer:C
Which expenditure is allowed to be deducted while calculating the income from illegal business?
A. Expenses incurred due to infringement of law. B. Penalties and fines C. Ordinary business expenses D. All of the above.