whether following exp. allowed under income tax?
This query is : Resolved
11 April 2018
Whether Gold purchased by a pvt. ltd. company for giving as gift to Main supplier or Customer allowed under income tax?
please guid
11 April 2018
Can be claimed u/s 37(1).
Ps:- CBDT has issued a circular stating that any expense incurred in providing
freebies to medical practitioners by pharmaceutical companies in violation of
the provisions of the Indian Medical Council (Professional Conduct, Etiquette
and Ethics) Regulations, 2002 shall be inadmissible under Section 37(1) of the
Income Tax Act, being an expense prohibited by the law.
Ps:- CBDT has issued a circular stating that any expense incurred in providing
freebies to medical practitioners by pharmaceutical companies in violation of
the provisions of the Indian Medical Council (Professional Conduct, Etiquette
and Ethics) Regulations, 2002 shall be inadmissible under Section 37(1) of the
Income Tax Act, being an expense prohibited by the law.
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
- CAPITAL GAIN BASE ON NOTIFICATION
- Taxable or Tax exempt
- Demand Outstanding AY 2013-14 TDS Deducted not shown in 26as
- TDS Deducted AY-2013-14 Not Reflected in 26as
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- ADVANCE PAYMENT OF ADVOCATE
- CREDIT NOTES WITHOUT GST
- DIN reactivation
- REGARDING ANNUAL RETURNS FILLINGS OF A COMPANY INCORPORATED ON 28.03.2025
- Query – TDS on purchase of land from NRI under Income-tax Act, 2025
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
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
