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INCOME TAX

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Querist : Anonymous

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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
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CA Prashant Gupta

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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.
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Satpal Singh

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Satpal Singh (Expert)
29 January 2010 Agree with Ca Prashant Gupta
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