Whether Gifts given to Directors and Members of the Company an Allowable expenditure in the hands of Company as per Section 37 of the Income Tax Act, 1961
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Allowable expenses
Replies (1)
I dont think that gifts given to members would be allowable. However Directors who are associated in the management & working of the company, gifts given to them would be allowable subject to certain conditions i.e. it must be proved that they are being given so that it would be incidental in efficient working of the company.
Members are not associated with the working of company, so gifts given to them would be disallowed.
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