Ca membership fees
This query is : Resolved
CA Rakesh Kumar
(Querist)
20 December 2014
Can you please inform the Income TAx Act Section under which the membership fees to ICAI can be claimed as deduction?
Rupesh Jain
(Expert)
20 December 2014
you can claim u/s 37
CA Rakesh Kumar
(Querist)
20 December 2014
Thanks for reply. What if member is not having COP. I think there is some section which allows in such case?
CA Kumar Mukesh
(Expert)
21 December 2014
Section 37 covers all expenditure otherthan covered under section 29 to 36 of the act.
What is important it should be incurred for business profession not in the nature of personal expenses and not in the nature of capital expenditure
What is important it should be incurred for business profession not in the nature of personal expenses and not in the nature of capital expenditure
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