09-03-2004, 02:02 AM
Hi
Allowable deductions are the deductions listed in Ordinance which a business can deduct. These are listed in the start of chapter on business income i.e. salaries (subject to conditions), direct expenses, depriciation etctera. Deductable expenses are specific expenses notified by CBR byname, which can be deducted like WWF, Workers profit participation fund etctera which are statutory in nature.
Hope this shall clarify the point else email me at [email protected]
Aamer Sikandar
Allowable deductions are the deductions listed in Ordinance which a business can deduct. These are listed in the start of chapter on business income i.e. salaries (subject to conditions), direct expenses, depriciation etctera. Deductable expenses are specific expenses notified by CBR byname, which can be deducted like WWF, Workers profit participation fund etctera which are statutory in nature.
Hope this shall clarify the point else email me at [email protected]
Aamer Sikandar
