Foreign Tour Operator pays US $ in cash
This query is : Resolved
12 March 2008
Hi,
My client is operating foreign tour and is making payment to the Foreign Agent in Cash Dollars which he withdraws from his Bank after providing the relevant documents but not a CA Certificate u/s 195. He also pays tips to the Guides till US $ 200 to 500 of which no voucher is made.Will all this expenses be allowed and if not all than what % wil be Disallowed.
My client is operating foreign tour and is making payment to the Foreign Agent in Cash Dollars which he withdraws from his Bank after providing the relevant documents but not a CA Certificate u/s 195. He also pays tips to the Guides till US $ 200 to 500 of which no voucher is made.Will all this expenses be allowed and if not all than what % wil be Disallowed.
12 March 2008
FULLY SHALL BE DISALLOWED
12 March 2008
The entire expenses will be disallowed under the provisions of the Income Tax Act as no TDS has been deducted at source.
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