Co-op Society paid Rs 100000 to every member on his death. No matter whether Death was due to corona or natural death and payment made by society is debited to P&L A/c.
Whether such payment made on death of shareholder/member is eligible as business expenditure u/s 37?
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Payment on Death of Shareholder
Replies (3)
Provided such clause incorporated in MOU.
Sir do we need to disallow this expenditure under section 37? if yes than on what specific grounds?
If not incorporated under MOU, it is to be disallowed.
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