ITC on Expenses related to Ceremonial occasions
This query is : Resolved
Quick Summary
02 November 2020
We have organized Vigilance Awareness Week and conducted various competitions for Employees and their Family members and we have purchased Gifts for the Winners. Can we avail the ITC of the Gifts purchased?
regards
We have organized Vigilance Awareness Week and conducted various competitions for Employees and their Family members and we have purchased Gifts for the Winners. Can we avail the ITC of the Gifts purchased?
regards
CA R SEETHARAMAN
(Expert)
02 November 2020
Creation of vigilance awareness is related to business so ITC can be claimed on such gifts.
Lekhraj sood
(Expert)
02 November 2020
However, you will have to reverse ITC on the gifts given to family members of employees.
03 November 2020
Dear Sirs,
Thank you very much for clarifying.
regards,
A K Sarma
Thank you very much for clarifying.
regards,
A K Sarma
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Employee secondment
- Reward for festival
- GSTR9 Annual Return
- Ito add credit side of bank
- Clarification on GST, TDS, and Accounting Provisions for Import/Export Commission Agents,profes. ser
- Clarification on GST, TDS, and Accounting Provisions for Import/Export
- Gift to nri relatives resides in usa
- Rectification under processing even after 6 months cpc portal
- Positive Balance in RCM Liability/ITC Statement – Commercial Rent RCM – Guidance Required
- Form 144 TDS Return Validation error
- RCM and same line
- TDS Return Statement Status
- ARCA LOGIN
- Appointment of Auditor By Form ADT-1
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
