ALLOWABILITY OF EXPENSES UNDER INCOME TAX

CELEBRITY CRICKETOR WITH AN INTENT TO TO MAINTAIN GOOD IMAGE/SOCIAL STATUS AND TO GAIN MORE FOLOWERS AND NEW BRAND ENDORSMENT PURCHASES EXPENSIVE WATCH AND CLOTHES FOR HIM. Q1. CAN SUCH PURCHASE OF CLOTHS / WATCH BE CLAIMED AS EXPENSE DEDUCTION FROM BRAND ENDORSMENT INCOME AND CRICKET INCOME. CRICKETOR TAKES SHOULDER INSURANCE KNEE INSURANCE LEG INSURANCE I.E. IMPORTANT BODY PART REQUIRED TO PLAY CRICKET  AND ALSO WITH A CLAUSE THAT IN CASE OF INJURY TO ANY SUCH PART DUE TO WHICH HE IS NOT ABLE TO PLAY MATCH INSURANCE COMPANY WILL REPAY. Q2 - CAN SUCH INSURANCE AMOUNT BE CLAIMED AS…

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