Inadmissible Expenes

Inadmissible Expenes

                    The following expenses have been declared as inadmissible expenses;

1)Any cases , rate or tax levied on profits or as proportion of profit;

2)Salaries paid without deduction of tax;

3)Interest salary , commission or remuneration paid to partners of a firm;

4)Interest , salary etc , paid to members of an association;

5)Brokerage or commission paid to non-residents if tax has not been deducted;

6)Any payment to a provident fund or other fund established for the benefit of employer has made effective arrangements to secure that tax shall be deducted at source from any payment made from the fund which is taxable under head salaries;

7)Any allowances on account of perquistes or other benefits to employees that exceed 30% of salary of the employee;

8)Any allowance in respect expenditure on entertainment as may be prescribed under sec.104(4)(e).;;;