Premium luxurious briefcase purchased by MD of a Pvt Company
This query is : Resolved
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
- ITR 2 Short Term gain & Long term gain
- Off Market debit and credit transaction
- Itr 1 processing
- Reporting Income under Section 44ADA
- ITR returnFY25-26
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR validation error - Balance sheet is not filled
- ITR 1: Details for showing Exempt Income
- Building and other construction workers welfare cess act 1996
- Article ship defecit
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- Tax liability on income of freelancer
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
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
