Minimum alternate tax exclusions for pre-amendment banking companies and expatriate Indian branch salaries remain outside head office expenditure limi...
Commission expenditure claimed against income from other sources may be deductible where evidence establishes a direct commercial nexus between the facilitation services and the commission earned. Customer purchase orders and sales records may demonstrate the payee firm's customer relationships, overlapping product trade, infrastructure and network. Where the payment is taxed in the recipient's hands and actual payment through banking channels is undisputed, such material can support admission of additional evidence and allowance of the deduction under section 57.
Commission expenditure claimed against income from other sources may be deductible where evidence establishes a direct commercial nexus between the facilitation services and the commission earned. Customer purchase orders and sales records may demonstrate the payee firm's customer relationships, overlapping product trade, infrastructure and network. Where the payment is taxed in the recipient's hands and actual payment through banking channels is undisputed, such material can support admission of additional evidence and allowance of the deduction under section 57.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4782
Join Channel
TaxTMI 
