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Allowable expenditures

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10 December 2012 If Stamp Vendor provides discount then will it be allowed as expenditure as per income tax act????
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CA Ashwani Agarwal

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CA Ashwani Agarwal (Expert)
10 December 2012 If he can prove the same. It will be allowed as an expenditure.
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RICHA MAKHIJA

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RICHA MAKHIJA (Querist)
10 December 2012 is it specifically mentioned under any section of PGBP???
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Soumitra Basu

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Soumitra Basu (Expert)
10 December 2012 YES. YOU ARE ELIGIBLE.
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CA Roshan Jha

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CA Roshan Jha (Expert)
11 December 2012 If such discount is genuine,than it is just like trade discount. Hence eligible for deduction. Probably it will be allowed as deduction under section 37(1) i.e general deductions.

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