- Personal expenses
- Interest, salary paid outside India without deduction of tax
- Wealth tax
- Expenses of the nature disallowed in section 40A
- Expenses in connection with winnings from lotteries, crossword puzzles, races, gambling or betting.
- Exception: However in case of assessee being the owner of horses maintained by him for running in horse races, the expenses in connection with owning and maintaining horses shall be allowed in computing the income of the assessee from the activity of owning and maintaining horses.
