Sponsoring MD's Son's Education Can Be Allowable Business Expense u/s 37 If Relevant and Beneficial.

Sponsoring MD's Son's Education Can Be Allowable Business Expense u/s 37 If Relevant and Beneficial. https://www.taxtmi.com/highlights?id=53165 Allowable revenue expenditure u/s 37 - training charges incurred on non-executive director - Assessee has sponsored the education of son of the M.D. What is relevance, whether the person who was sponsored, is relevant for the existing business and whether the business benefitted. If it is yes, then it is valid business expenditure, to be allowed - AT en-us Mon, 27 Apr 2020 08:31:00 +0530 Mon, 27 Apr 2020 08:31:00 +0530 TaxTMI RSS Generator Sponsoring MD's Son's Education Can Be Allowable Business Expense u/s 37 If Relevant and Beneficial. https://www.taxtmi.com/highlights?id=53165 Allowable revenue expenditure u/s 37 - training charges incurred on non-executive director - Assessee has sponsored the education of son of the M.D. What is relevance, whether the person who was sponsored, is relevant for the existing business and whether the business benefitted. If it is yes, then it is valid business expenditure, to be allowed - AT Highlights Income Tax Mon, 27 Apr 2020 08:31:00 +0530 https://www.taxtmi.com/highlights?id=53165