Disallowance of expenses
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 September 2011
If a company purchase some gift(Gold Coins) for distribution to its customer for sales promotion from a government co. above Rs. 20,000.00 in cash in single payment.
Is the Expense eligible for deduction?
Is the Expense eligible for deduction?
15 September 2011
No, payment made to government co is not included in Rule 6DD of the Income Tax Rules, 1962
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 September 2011
But the client is claiming that as the payment is made to govt. co. so the same can be claimed as deductible exp.
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