Please Help: Is it comes under general deduction & allowable expenses (like hotel bills, restaurant bills etc.) under Income tax Act that an employer takes all its employees for a domestic trip like Goa
Posted Date : 02-Sep-2011 , 04:20:45 pm | Posted By Kamal Singh
Urgent
Category : Income Tax | Answers : 2 | Comments : 0 | Hits : 400
Answers
Answer By: Ashish Karundia
Dear Friend,
Your understanding is correct. you can claim the deduction of the same under Section 37 of the Income tax Act, 1961 provided the same has nexus with the business carried on. Further, the same should not be of personal nature.
Your understanding is correct. you can claim the deduction of the same under Section 37 of the Income tax Act, 1961 provided the same has nexus with the business carried on. Further, the same should not be of personal nature.
Answer By: CA Manzurhasan J Shaikh
Yes! Decuction can be claimed U/s 37 subject to condition that those exp are related to the business.
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