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?
Menu
Payment on Death of Shareholder
Replies (3)
Quick Summary
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.
Recent Topics :
- How do you collect documents from clients for ITR
- GST ITC on Construction/ Tenant Specific Renovatio
- GST Treatment and Reporting of Share & Mutual
- AGM Defective Notice
- IMS Rejection of Sales and Sales return
- Taxation of Gift - Father to Daughter
- TDS on Property Purchased above 50lakh
- Accounting Treatment in Tally for Restaurant Sales
- Form 146 required
- Rule 86(B) Applicability
Related Topics :
CAclubindia
