member fee paid to any club is allowable under income tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 September 2010
Any membership fee paid to club on behalf of employee by the company is allowable under the incometax act 1961.
What are the consequences to the company for such payments under relevant Acts.
The company is a NBFC.
What are the consequences to the company for such payments under relevant Acts.
The company is a NBFC.
CA.ViVeK M ACA
(Expert)
24 September 2010
Fact of the cases
Membership in a club
As per the provision
The amount of expenditure being membership fee and the annul fee incurred by the employee or any member of the house hold shall be the amount of benefit or amenity.
Conclusion
The amount of tax shall be chargeable as perquisite.
Membership in a club
As per the provision
The amount of expenditure being membership fee and the annul fee incurred by the employee or any member of the house hold shall be the amount of benefit or amenity.
Conclusion
The amount of tax shall be chargeable as perquisite.
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