sec 37(1)
Jasbir Pundir (24 Points)
03 February 2018
need case study for above act in which pvt ltd company bought insurance for his employees
Jasbir Pundir (24 Points)
03 February 2018
Rishi Mehta
(Ur friend )
(1533 Points)
Replied 03 February 2018
Any expenditure incurred for the furtherance of business and wholly & exclusively for the business or profession will be allowed under the provisions of Section 37(1).
In your case Insurance premium paid for the employee will be allowed under section 37(1), since premium is paid exclusively for the business.
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
CAclubindia
