Whether pickpocket exp. is allowable under income tax act
This query is : Resolved
deepak khandelwal
(Querist)
22 December 2011
suppose i gave my staff Rs. 10000 for office exp. & he lost it in market & gave me a FIR copy for the same.whether this Rs. 10000 is allowable or disallowable under Income Tax Act.
CA PARAS BAFNA
(Expert)
22 December 2011
You have got sufficient proof in the form of
FIR. You can claim it as it is during the normal course of business.
.
FIR. You can claim it as it is during the normal course of business.
.
CA Abhishek Rana
(Expert)
23 December 2011
Such an expense can be claimed as deductible u/s 37(1) of Income Tax Act.
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