Which of the following expenses debited to Profit and Loss a/c but disallowed while computing income from Business?

(A) General Expenses

(B) Personal Expenses

(C) Expenses of Income which is taxable under the other heads of income

(D) Charities and donations Choose the correct answer from the options given below:

Choose the correct answer from the options given below:

Correct option is B

· Personal expenses are not allowed as a business deduction.
· Donations are not deductible unless under specific sections like 80G.
· Expenses related to non-business income are disallowed.
Information Booster:
1. Allowable expenses include rent, salaries, depreciation, etc.
2. Interest on business loans is deductible.
3. Expenses related to non-business activities are disallowed.
Additional Knowledge:
· Capital expenses are not deductible as revenue expenses.
· Provisions for bad debts may be allowed under certain conditions.