Hi Everyone,
We are not related to jewelry business, We have given gold coins to our employees as Diwali gift, are we allowed to take credit of ITC of that gold purchase?
Thank you.
Menu
Is ITC available on gold coins given to employees as gift on Diwali ?
Replies (2)
No ITC not allowed on free distribution of gifts as per section 17(5) blocked credit
No ITC not available.
Recent Topics :
- Sale of plots in open land
- Income tax query
- Best CA Inter coaching in laxmi nagar
- HOW TO SELL SHARES OF PRIVATE LIMITED COMPANY SOME
- Unregistered Association of Persons (AOP) Agreemen
- Intimation u/s 245 of income tax act
- Ewaybill query
- IDS Refund: GSTR-2B Invoice Not Validated in State
- Self assessment tax paid not reflected in ITR2 fil
- Tax on nps corpus
Related Topics :
CAclubindia
