Income Tax on Gifts
This query is : Resolved
06 February 2021
Hello, in my proprietorship business to gift our good associates & resellers I bought gold coins worth 1.5 lakh and 3 lakh loose diamonds (divided in many). This activity happened around Diwali, Christmas & New Year.
I am being told that it can be shown as business/marketing expense in Income Tax, is that true?
Thanks for help.
I am being told that it can be shown as business/marketing expense in Income Tax, is that true?
Thanks for help.
06 February 2021
Yes, that's true..................
Message likes :
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07 February 2021
Thanks so much sir for guidance.
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