Basic condition for allowability of foreign travel eaxpense, Income Tax

[Vikas Aggarwal]

Dear Sir/madam,

Can you help me if in this issues, a private limited company claim deduction of foreign travel expense of his director, but there was no income arise from foriegn country, however company raised an ECB Loan from UK & justified that purpose of forign travel was to held meeting from bank for discussion in this loan, apart from this director also visit abroad otherthan UK.

Whether all foreign expense allowable under Income Tax Act.

Regards

CA Vikas Aggarwal

Posts / Replies

[CA GOPALJI AGRAWAL]

We have to produce the corroborative evidence to prove that the travelling was on account of business expediency not personal one,