20 January 2009
IS wine expenses is allowed as per income tax act or not. there is nay restriction in company law ?
As there is no bills for these types expenses and all are in cash.If we are claiming these expenses as staff welfare/Business promotion.These can be disallowed at the time of assessment ?
20 January 2009
Yes, these are admissible. However, any expense which is not properly vouched and supported by the documents to justify the incurrance of such expense may be disallowed.
CAclubindia
