Pgbp querry important

Tax queries 1337 views 2 replies

CAN ANY1 PLS TELL ME THE TREATMENT OF THESE EXPENSES

IF ANY1 KNOW    ANY OF THE POINT BELOW ANS PLS TELL ME

1. DONATION GIVEN ANYWHERE------------------------------------ALLOWED OR DISALLOWED

2. DONATION TO NOTIFIED INSTITUTIONS-----------------------ALLOWED OR DISALLOWED

3. PAYMENT OF APPROVED OR UNAPPROVED PROG.

4.  INSUREANCE OR THE PROPERTY------------------------------ALLOWED OR DISALLOWED

5.  INTEREST ON BUSINESS INVESTMENT PAID --------------- ALLOWED OR DISALLOWED

6. INTEREST ON SALES TAX OVERDRAFT

7. EXP. ON INCOMETAX PLANNING

8 CONSULATATION FEES OF INCOME TAX

9. IF PROFESSIONAL RECEIVED INCOME FROM UNVERSITY FOR SEMINAR (ADVANCE AS WELL AS NORMAL  INCOME).......UNDER WHICH HEAD

Replies (2)

1) Donations are disallowed in computation of PGBP. However certain donatiions are allowed like donations to Trade Union, etc.

2)  Sec 35, 35 AC, 35CCA, 35 CCB specifically covers certain payments which are allowed as deduction in PGBP computation at certain specific percentages.

3) Insurance is allowed u/s 36(1)

4) Interest on Business Investments allowed as deduction as section 14A is not attracted.

5) Income Tax Planning and Consultancy Fees is allowed.

 

thanku sir for your reply


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register