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Can I deduct the cost of a home office on my tax return as a small business owner?

Curious about Small-Business Taxes

Can I deduct the cost of a home office on my tax return as a small business owner?

Yes, as a small business owner in India, you can deduct the cost of a home office on your tax return if it is used exclusively for business purposes. The deduction amount will be based on the proportion of your home used for business purposes, and the expenses you can claim include rent or mortgage interest, property taxes, home insurance, and utilities. However, it's important to note that claiming a home office deduction can be complex, so it's recommended that you consult with a tax professional or accountant for guidance.

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