Gift to Employees
This query is : Resolved
21 December 2010
Gift to Employees is allowed expenses in u/s 37 ??
In AY 2008-2009 Assessee has paid FBT also so if these Expenses are disallowed in u/s 37 then FBT should also be refundable.
In AY 2008-2009 Assessee has paid FBT also so if these Expenses are disallowed in u/s 37 then FBT should also be refundable.
21 December 2010
Gift-in-kind up to Rs.5,000 in a year is allowable.
IF FBT paid but expenses disallowed subsequently, you can ask the AO to adjust the difference amount for the current tax.
IF FBT paid but expenses disallowed subsequently, you can ask the AO to adjust the difference amount for the current tax.
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