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Tax-Deductible Business Expenses in India
Under the Income Tax Act, these expenses are allowable deductions:
✓ Rent and utilities for business premises
✓ Salaries and wages (with proper payroll records)
✓ Depreciation on assets (computers, machinery, vehicles)
✓ Marketing and advertising with bills
✓ Professional fees (CA, legal, consulting)
✓ Travel with bills (not personal travel)
✓ Insurance premiums on business assets
Expense Record Retention Rules
Law
Retention Period
Records Covered
Income Tax Act
8 years
All accounting records
GST Act
72 months (6 years)
Invoices, books
Companies Act
8 years
Financial statements
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"I use this every month to categorise expenses before sharing with my CA. The CSV export is directly compatible with Excel — saves hours of data entry."
Sanjay Bhat — Consultant, Bangalore
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"The category breakdown showed me I was spending 40% of my budget on marketing. Made me rethink the strategy and reallocate to better channels."
Anjali Reddy — E-commerce seller, Hyderabad
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"Simple and clean. No account needed, works in the browser. Perfect for tracking petty cash and daily expenses for my small shop."
Ramesh Kumar — Retail shop owner, Chennai
Need Professional Bookkeeping or GST Filing?
Our CA team manages monthly bookkeeping, GST returns, and income tax filing — starting at ₹999.
Which business expenses are tax deductible in India?+
Allowable deductions include: rent and utilities, salaries, depreciation on assets, marketing with bills, professional fees, travel with proper bills, and business insurance. Personal expenses cannot be deducted. Always maintain proper invoices and documentation for all deductions.
How should I track expenses for GST ITC?+
For GST Input Tax Credit (ITC), track each expense with: vendor GSTIN, invoice date, invoice number, taxable amount, and GST amount. Only purchases from GST-registered vendors with valid invoices qualify for ITC. Export this data to your CA for GSTR-3B and annual reconciliation.
Is my expense data saved anywhere?+
Your data is saved only in your browser's localStorage — it stays on your device and is never sent to any server. If you clear your browser data or switch browsers, the data will be lost. Use the Export to CSV button to save a backup regularly.
How long must I keep business expense records?+
Income Tax Act requires 8 years. GST Act requires 72 months (6 years) from the annual return due date. For companies under the Companies Act, accounts must be maintained for 8 years. Always keep both digital and physical copies of bills and invoices.