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Answer:

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Explanation:

The following are the deductions allowed to computer income from business or profession:

* Depreciation on computers and computer software

* Rent paid for computer equipment

* Telephone expenses

* Internet expenses

* Office supplies

* Travel expenses

* Meals and entertainment expenses

* Professional fees

* Insurance premiums

* Legal and accounting fees

* Interest on loans taken for business purposes

* Losses from other businesses or professions

The following are the disallowed expenses:

* Personal expenses

* Capital expenditure

* Expenses that are not related to the business or profession

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Answer:

Deductions for computing income from a computer-related business or profession can include:

1. **Depreciation:** Claiming depreciation on computer hardware and software.

2. **Operating Expenses:** Deducting costs related to the operation, such as electricity, internet, and maintenance.

3. **Software Expenses:** Deducting the cost of licensed software used for business purposes.

4. **Employee Salaries:** Deducting salaries paid to employees involved in the business.

5. **Rent:** If you use a dedicated space for your computer-related business, you may be able to deduct a portion of your rent.

Disallowed expenses often include personal or non-business-related expenditures. Additionally, any expense not directly related to the business or not meeting specific criteria may be disallowed. It's essential to follow tax regulations in your jurisdiction and keep detailed records of your expenses for accurate reporting. For precise information, consult with a tax professional familiar with the tax laws applicable to your situation.

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