Can audit charges/fees added as business expense?

[Wallace]

Title says all, Is it possible to add this expense (10k or above) and file loss, that can be used to offset profit next year?

[nithin]

@Wallace

Title says all, Is it possible to add this expense (10k or above) and file loss, that can be used to offset profit next year?

Yep, audit fees is a business expense.

[VelmuruganSengottai]

@Wallace

Title says all, Is it possible to add this expense (10k or above) and file loss, that can be used to offset profit next year?

how much your auditor is charging ?
my CA is not doing any bookkeeping for me

[Wallace]

I’ve no idea and will try cleartax. All threads on varsity suggest it may be around 10k there.

[TAXIQ.IN]

It is a business expenses for business can be claimed as expenses