Pgbp
This query is : Resolved
14 June 2013
ABC Ltd has engaged one Advocate with regard to its legal proceedings. The company provides him facilities like free transport , boarding/lodging and has incurred ₹50,000 on it .. Will this be allowable as an expense under pgbp ? If yes, under what section ?
15 June 2013
Such Exp will be allowable under section section 37 of the Income Tax Act as such expenditure are incurred for business purpose and are of revenue expenditure.
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16 June 2013
Yes.if the legal proceedings related to business it allowable u/s.37
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