Technical assistance service

This query is : Resolved

ARTHI (Querist)
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27 November 2015 Dear Friends / Experts,

Indian Company availed ‘Technical Assistance Service’ from Foreign Company and made payment to them.

Query

Someone may please confirm, whether the said amount has to be filled in ITR in the field ‘24. ii. To others’ in P&L Schedule.

Your reply, please..............

Thanks in advance for possible replies from all concerned.

RONAK DARJI

RONAK DARJI (Expert)
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29 November 2015 Respected Mam,

Technical Assistance Service from foreign company are to be treated as revenue nature expenditure and therefore it should be stated in Field 24 (ii)in p&l Schedule TO others are correct.

Ronak Darji
ronak.jdarji@gmail.com