Gift paid by a company.
This query is : Open
14 March 2012
Any one can help me on the topic related to "Gift given by company to some one without any occasion in cash" paid to relative or to unrealted party.
31 March 2012
Specify query is that madam...
A company given a cash gift of Rs. 600,000/- to an unrelated person, we are the auditor of that company, what should we have to done in this case.
and what is the implication of this in Income Tax and as well as in Companies Act.
A company given a cash gift of Rs. 600,000/- to an unrelated person, we are the auditor of that company, what should we have to done in this case.
and what is the implication of this in Income Tax and as well as in Companies Act.
04 April 2012
Amit ji, Gift given by company to unrelated person amounting to Rs 6 Lacs, according to me is not an allowable expenditure in Income Tax. Others please correct, if I am wrong.
04 April 2012
Ok. thanx......
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