Deduction

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

07 December 2011 Dear Experts,
Is amount paid for sponsorship of Sports by Individual, is eligible for deduction under any section??
Please advice..

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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07 December 2011 It depends upon the fact -whether the Individual has paid the amount for getting benefits in his business.

If he can prove that the expenditure has been incurred wholly and exclusively for the purpose of his business , he may get deduction as an expense. However, Persons not engaged in the business, can not claim expenditure.

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