Hi, CAClubmember i want to know to what extent the expenses incurred by partner or director towards Overseas Expenses incurred by him/her is exempted. pls. explain with suitable explain. Thanks
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Expenses incurred towards business trip
Replies (1)
The nature of trip is business so it shall be treated as a normal business expenditure under sec 37(1).Further the question of exemption does not arise.If there is a component of personal use then a suitable ratio shall be disallowed for the firm/ company with no tax exemption nor incidence on the partner or director.
Regards
Raj C Doshi
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