Allowability

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Querist : Anonymous

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Querist : Anonymous (Querist)
26 October 2010 A pvt comapny has given guest house to its director .can guest house expenditure (like Rent,maintainance exp, kitchen expenses) will be allowed as an expenditure as per IT act /Company act?

What is the tax implication on director

Pls clarify

Regards
Madhuraj
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CA Shailesh Kumar Bhagat

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CA Shailesh Kumar Bhagat (Expert)
26 October 2010 If he is staying for busniss purpose , then it will be allowable u/s 37(1).
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Querist : Anonymous

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Querist : Anonymous (Querist)
27 October 2010 Thanks.

if he is staying with his family then what is the implication and also what is Tax implication on director

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