Subscription paid to Clubs / Association etc.,
This query is : Resolved
05 August 2010
our Client is Managing partner in partnership firms and Managing director in a pvt ltd., company, he is member of various Clubs and Associaion, for which the partnership firm is paying the monthly subscriptions fees etc. and debiting is current account.
my query is Can the Firm or Pvt Ltd ., co treat it as Business expenses
my query is Can the Firm or Pvt Ltd ., co treat it as Business expenses
05 August 2010
no it will not be treated as business exp.
according to section 37 there should be nexus with the business.
according to section 37 there should be nexus with the business.
05 August 2010
IF MEMBERSHIP SUBSCRIPTON TO ASSOCAITON REALTED TO BUSIENSS , THEN IT WILL BE ALLOWED.
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