Tax benifit on paying subsription fee
This query is : Resolved
anjana arora
(Querist)
23 March 2015
hi,
please suggest if some one pay Subscription fees to Institute as a member CIMA similar to CA in INDIA is entitled for any tax benefit.
please suggest if some one pay Subscription fees to Institute as a member CIMA similar to CA in INDIA is entitled for any tax benefit.
23 March 2015
first specify who is that some1?
then specify his/ her business or profession?
then specify his/ her business or profession?
anjana arora
(Querist)
23 March 2015
hi
the Assesse is the one of the director of a KPO and has to pay this subscription fee yearly. it is used for both for the profession and business. but we have not booked expenses in company account
the Assesse is the one of the director of a KPO and has to pay this subscription fee yearly. it is used for both for the profession and business. but we have not booked expenses in company account
23 March 2015
if company is making such payment then director cant take the benefit
anjana arora
(Querist)
23 March 2015
no company is not making any payment. director has paid from his personal account
for personal renewal/subscription.
for personal renewal/subscription.
23 March 2015
so then he can take this exp only if he is having any prop business as a professional.
if he is only director and has no income from any seperate prop/ partnership busines as professional then he cannot claim this amount
if he is only director and has no income from any seperate prop/ partnership busines as professional then he cannot claim this amount
anjana arora
(Querist)
23 March 2015
thank you very much.
23 March 2015
you are welcome anjana.........
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