Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights September 2013 Year 2013 This

Expenditure on spouse/ relatives of Director of the company is ...

Income Tax

September 26, 2013

Expenditure on spouse/ relatives of Director of the company is disallowed u/s 37 of the Income Tax Act - a sum of Rs. 13.38 lakhs incurred by the appellant-company on the foreign tours of spouses of the directors has rightly been disallowed - AT

View Source

 


 

You may also like:

  1. Allowable revenue expenditure u/s 37(1) - Writing off of advance given to the Director - waiver of excess remuneration paid to the Director - The provisions of Section...

  2. Prior period expenditure - when prior period income is taxed prior period expenditure cannot be disallowed - AT

  3. Pharmaceutical companies’ gifting freebies to doctors, etc. - whether Allowable Business expenditure under Section 37(1)?

  4. Disallowing commission expenses u/s 37 - As all the persons to whom commission was paid were either Directors of the Company or their relatives. None of them is shown to...

  5. Entitlement to exemption u/s 11 - there is a violation of sec. 13(1)(c) of the Act as the assessee invested funds in a limited company where the trustee is the Managing...

  6. Disallowance u/s 36(1)(iii) - claim of interest expenditure - The companies GIL and CNIL are subsidiary companies, which clearly indicates that the investment made by...

  7. Nature of expenditure - Revenue expenditure or capital expenditure - The ITAT held that, it is now well settled that revenue expenditure is allowable in entirety in the...

  8. TP Adjustment - Disallowance of expenditure u/s 40(a)(ia) - any expenditure not for the purpose of business, the A.O. can certainly re-characterize the same as not...

  9. Loans to directors, etc - to limit the prohibition on loans, advances, etc., to directors of the company or its holding company or any partner of such director or any...

  10. Disqualifications for appointment of a Directors - if the default is committed by company A by not filing financial statements or annual returns, the said director of...

  11. Company to have Board of Directors - easier requirements with respect to appointment of resident director. It also seeks to specify limits with respect to pecuniary...

  12. Disallowance of claim of CSR expenditure - the amendment is not with retrospective effect - CSR expenditure cannot be disallowed by invoking the explanation 2 to section...

  13. Business expenditure u/s 37 - liquidated damage - breach of contract terms - Expenditure was not incurred for any purpose which is an offence or which is prohibited by...

  14. Claim of expenses disallowed u/s 37(1) - expenditure/loss incurred on abandoned project – for the first two years the expenditure is shown as “work-in-progress” - claim...

  15. ATTENTION: All DIRECTORS of ANY COMPANY Updating of Income Tax PAN details in MCA21 DIN DATA

 

Quick Updates:Latest Updates