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ARE GIFTS EXEMPT AS BUSINESS EXPENSE

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(Querist)
12 June 2009 ARE GIFTS MADE TO ANY ONE DEDUCTIBLE AS BUSINESS EXPENDITURE IN P & L ACCOUNT.
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
12 June 2009 NO. It should in relation to your business. Then only it is allowable. Eg. Gift given to an employee on his/her sons marriage is allowable.
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CA Suresh Choudhary

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CA Suresh Choudhary (Expert)
13 June 2009 agree with expert
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Ankur Garg

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Ankur Garg (Expert)
13 June 2009 Agree with Aditya.

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