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 January 2013 Year 2013 This

Retirement compensation paid to workmen - the expenditure was ...

Income Tax

January 18, 2013

Retirement compensation paid to workmen - the expenditure was incurred upon the closure of the business - must be allowed in its entirety in the year in which it is incurred - AT

View Source

 


 

You may also like:

  1. Deduction of TDS on the amount paid and payable to the workmen - Though it is referred as Voluntary Retirement Scheme, one has to see the object and intent behind it....

  2. Expense incurred upon construction of the drain for release of effluents have conferred benefit of an enduring nature upon the assessee - held as capital expenditure and...

  3. Premium paid on redemption of debentures – capital expenditure vs revenue expenditure -actual premium paid upon the redemption of the debentures would have to be...

  4. Disallowance out of travel expenditure - AO has rightly declined the said travelling expenses being not incurred upon the employees of the assessee firm - AT

  5. Genuineness of labour wages expenses, embroidery charges, fabrication expenses etc. - getting work done through small workmen who do not have any permanent place of...

  6. Characterization of income - consideration received by the partner of a firm upon retirement from the firm - retirement benefit - any money received by the partner upon...

  7. Expenditure incurred on improvement/additions to leasehold property - The expenditure incurred by the assessee on construction of storage structure etc. has to be...

  8. Revenue expenditure versus capital expenditure - expenditure incurred on ERP Software – allowed as revenue expenditure - AT

  9. Amortisation of expenditure incurred under voluntary retirement scheme - Question framed by this Court is answered in favour of the Assessee and against the Department...

  10. Payment on account of Voluntary Retirement Scheme (VRS) - It is seen that section 35DDA has been inserted by the Finance Act, 2001 providing for amortization of...

 

Quick Updates:Latest Updates