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(Querist)
01 June 2011 Hai

Pl. clarify whether expenditure made against corporate social responsibility is an eligible expense under IT Act.

thank u
regards
pushpa
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Ca Aashish Upadhyay

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Ca Aashish Upadhyay (Expert)
01 June 2011 Dear Pushpa

What you need to proof to TAXMAN is that wheher the said expenses is incurred

1) for the Business and Profession of the assesse carried on during the previous year.

2) Actaully incurred during the previous Year and expanded wholly and exlusively for the purpose of the Business

3) It is not an Personal Expenditure and or Capital Expenditure.

So I guess you may decide. Please do take a reading of Section 37 of Income Tax Act.

regards

aashish
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