Expense on Director's Education

This query is : Resolved

CA Sahil Singla.. (Querist)
Follow

17 April 2011 Sir
A Pvt. Ltd Concern spent amount of Rs. 400000 on family business Management programm conducted in India for one of the director's education.It debited the same amount to Training Expense A/c
Plz tell me if this amt is allowed under Income Tax . ?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
Follow

17 April 2011 Here, the reason for incurring such expenditure becomes a matter of doubt as to whether it is bona fidely incurrred for the purpose of business so as to get a deduction under section 37(1) of the Income tax Act,1961. Courts have taken divergent views on such issues,not on account of any difference in principle but with respect to the facts of the issue.

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

CA.K.RAMAKRISHNA. PRABHU

venkanna setty

P.S.Harishankar

DSK TMC

Navneet Pratap Singh

Subscribe Now

Expense on Director's Education

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANT

Senior Executive

CA Final

GST CONSULTANCY

Manager- Finance and Compliance

Accountant