Meyyappan (Manager Accounts) (93 Points)
19 April 2017Hi
I work in a partnership company. I have a query can companies can invest in SIP (Mutual Funds) and can take due advantage in Income tax (under expenses whether it is allowable for deductions?!)
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(185464 Points)
Replied 19 April 2017
Investment in SIP of MF is not expense, and hence it cannot be allowed as deduction.
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