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Income Tax - Highlights / Catch Notes

Home Highlights April 2017 Year 2017 This

The Managing Director of the company is personally responsible ...


Company Director Liable for Son's Education Costs; Not Considered Business Expenses for Tax Purposes.

April 28, 2017

Case Laws     Income Tax     AT

The Managing Director of the company is personally responsible for meeting the expenditure of his son’s education. The expenditure incurred by the assessee for providing higher education to the Managing Director’s son cannot be considered as business expenditure - AT

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