INCOME TAX
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 January 2010
If exp. incurred on ocassion of Diwali includes gift to relatives is it disallowed ? and if same is not debited to profit and loss account then what the treatment ? under PGBP income
CA Prashant Gupta
(Expert)
29 January 2010
Diwali gifts to relative is disallowed.
but if you didn't debit it to P/L then why worry about disallowed because you didn't claim that. So ignore that.
but if you didn't debit it to P/L then why worry about disallowed because you didn't claim that. So ignore that.
Satpal Singh
(Expert)
29 January 2010
Agree with Ca Prashant Gupta
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