Allowablity of expenses
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 May 2012
Dear Sir,
We a Pvt ltd co., distributed some alcohol to some officers as business promotion (having bills for the same).
Can we show it as business promotion expense and will it be deductible under IT.
As the exp. is incurred holly & exclusively for the purpose of the business.
Thanks
Raj
We a Pvt ltd co., distributed some alcohol to some officers as business promotion (having bills for the same).
Can we show it as business promotion expense and will it be deductible under IT.
As the exp. is incurred holly & exclusively for the purpose of the business.
Thanks
Raj
03 May 2012
Yes. This expenditure is allowed under Income Tax Act. But you need to prove your stand if required, that the expenditure for for business purpose only.
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