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Club subscription paid by Co. on behalf of its managing director was personal exp; disallowable under Sec. 37(1)
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Corporate Tax
Club subscription paid by Co. on behalf of its managing director was personal exp; disallowable under Sec. 37(1)
Posted on
on
March 13, 2015
Tenet Tax Daily March 10 2015
By
tenettax-team
Corporate Tax
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Wheeling charges paid for transmission of electricity would attract TDS under sec. 194C instead of sec. 194J
Ad-hoc sec. 40(a)(ia) disallowance made as books didn’t show true state of affairs on job charges paid to affiliate