Lavanya (Assisstent Manager) (32 Points)
29 October 2008What is the treatment for gratuity paid by a forgien branch to its employess in abroad in computing the total income of tha company under income tax act 1961?Is it required to consider Sec 43B in computing total income of the company.
MUNNA CHOWDHURY
(SERVICE)
(20 Points)
Replied 29 October 2008
What is the treatment for gratuity paid by a forgien branch to its employess in abroad in computing the total income of tha company under income tax act 1961?Is it required to consider Sec 43B in computing total income of the company.
MUNNA CHOWDHURY
(SERVICE)
(20 Points)
Replied 29 October 2008
What is the basis for disallowing of expenditure u/s 14A.
MUNNA CHOWDHURY
(SERVICE)
(20 Points)
Replied 29 October 2008
is interest paid on VAT allowable expenditure as per Income Tax Act,1961
S.Srinivasaraghavan
(Chief Financial Officer and Co)
(11318 Points)
Replied 30 October 2008
1)Gratuity paid is an allowable expenditure.
2) Dissallowance of expenditure? Where?
14A talks about computation of expenditure relating to exempted income.
3) Should be allowable.
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
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