01 April 2013
Payment of club membership fee(Entrance fee) is done by company on behalf of director cum promoter,Membership is in personal name of director and not in the name of company. Whether it should be treated as perk and added to salary,is it an allowable Expenditure in the hands of company?
01 April 2013
company will be allowed as business expenditure and on the other hand it will not be taxable in the hands of employee. provided it is wholly and exclusively for business purpose.
CAclubindia
