Deduction allowed as per it act or not
This query is : Open
16 January 2014
Rent paid for holiday home situated in a city in India for the employees of the company is an allowable expenditure as per IT Act?
16 January 2014
In my opinion, it should be an allowable expenditure. Since the amount has been spent on employee welfare, it should be allowed as usual business expenses u/s 37
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