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Taxability of gift given by AOP to Dealers
An AOP given Wrist Watches costing ₹2,500 each to 12 dealers as per sales promotion scheme. Is it allowable as deduction from Income?
Replies (1)
Section 56 (2) (x) is not applicable from the point of view of members
and however AOP can claim such amount as deduction . (Sec 37 )
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