Can liquor expenses be claimed as cash expenses as per income tax act?
rply fast
PULKIT KAPOOR (CA ) (74 Points)
16 April 2010Can liquor expenses be claimed as cash expenses as per income tax act?
rply fast
Kaushik Vankadkar
(Service)
(350 Points)
Replied 16 April 2010
You may claim as a business promotion expense. But see to that it does not exceed 20,000 at a time for a bill.
sudhir rawal
(B.COM/PCC/ARTICLE/'O'LEVEL)
(314 Points)
Replied 16 April 2010
The income tax is not defined that the liquor expenses are not good for health
they are only defined that the expenses which are paid in cash is not more than 20,000/- in one day to one person and which are allowed for business purpose are also allowed
you can claim liquor expenses for business purpose or promotion
that's why you can claim
CAclubindia
