16 July 2009
A co. which other than an event management co., if organises an event, will it be allowed to claim deduction for the prize money so distributed by it? Will it be allowed to claim other expenses for organising the same event? If so, under which proviso or section will it come?
16 July 2009
UPS when used as part of the computer can be depreciated at the rate used for computers. If it is used for other office purposes then it shall be regarded as general purpose equipments/office equipments @ 15% as per IT Act, 1961
16 July 2009
Yes. It will be allowed as deduction u/s 37 provided they are incurred wholly and exclusively for the purpose of business and on commercial expediency.