As per section 28(iv) value of perquisites by way of a foreign tour given to a dealer for his work by the company who's material he has sold is added as income under the head income from buisness or profession. Will sec 28 be applicable if a proprietor in search of a machine and technical knowledge gets invited into a foreing country where all the expenses (excluding the ticket expenses) are borne by the invitor (i.e. the machine manufacturer)? will it be considered as perquisite?
As per section 28 (iv) it is stated that Business income would include :
"value of any benefit or perquisites, whether convertible into money or not,arising from business or the excercise of a profession"
There is no business arising from such condition and thus is not chargeable to Tax
yes it is not taxable as a taxable perq under sec.28 . but manufacturer is allowed deduction
u/s 37 as general expenses made for customer
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