Premium luxurious briefcase purchased by MD of a Pvt Company
This query is : Resolved
Quick Summary
10 August 2023
A Luxurious briefcase
was purchased by MD of our Company Rs.55 K. Invoice is in Company's Name. GST is also claimed. This Brief case is purchased as a gift to be given to one of our vendors. Kindly suggest the Accounting treatment and impact under IT Act
was purchased by MD of our Company Rs.55 K. Invoice is in Company's Name. GST is also claimed. This Brief case is purchased as a gift to be given to one of our vendors. Kindly suggest the Accounting treatment and impact under IT Act
10 August 2023
Book it as sales promotion expenses.
10% TDS applicable under section 194R.
10% TDS applicable under section 194R.
Message likes :
1 times
10 August 2023
GST input Tax not eligible for this given as gift.
Message likes :
1 times
20 August 2023
Hello Seetharaman ji
Can you please help us know more about the TDS part here ? Please
Thanks for your time here
Can you please help us know more about the TDS part here ? Please
Thanks for your time here
20 August 2023
Please read the details from this following link :.
https://cleartax.in/s/analysis-of-section-194r-of-the-income-tax-act-1961
https://cleartax.in/s/analysis-of-section-194r-of-the-income-tax-act-1961
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
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- GST Rate for Catering Services
- TDS AND ITR ISSUE
- RELATED TO TRIBUNAL APPEAL
- ITR 4 and Bank transactions
- Carriage Road Act, 2007 read with Carriage by Road Rules, 2011
- EMI ISSUE IN HOUSING LOAN OLD REGIME
- Can we choose not to report losses in ITR3 if they cannot be carried forward?
- RATE AND HSN CODE
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
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
