![Gifts to Business Associates and Executives are “Business Promotion Expenses”, Deductible u/s 37 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Gifts-Business-Associates-Business-Income-Tax-Act-Income-Tax-Tax-ITAT-taxscan-1.jpg "Gifts to Business Associates and Executives are “Business Promotion Expenses”, Deductible u/s 37 of Income Tax Act: ITAT [Read Order]")
Gifts to Business Associates and Executives are “Business Promotion Expenses”, Deductible u/s 37 of Income Tax Act: ITAT [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) has held that the gifts to business associates and expenditure should be considered as...
![Expenses towards Gifts purchased for Sales Promotion allowable as Income Tax Deduction Even If List of Recipients are not provided: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Expenses-Gifts-purchased-Sales-Promotion-Deduction-ITAT.jpg "Expenses towards Gifts purchased for Sales Promotion allowable as Income Tax Deduction Even If List of Recipients are not provided: ITAT [Read Order]")
![Goods Imported as Gifts can be allowed Import Free on payment of Full Applicable Fees: DGFT [Read Circular]](https://www.taxscan.in/wp-content/uploads/2020/01/Imported-Gifts-Free-Payment-DGFT-Taxscan.jpg "Goods Imported as Gifts can be allowed Import Free on payment of Full Applicable Fees: DGFT [Read Circular]")
![No ITC on Inward supplies of Goods and Services given as Incentives in the form of Gifts: AAR [Read Order]](https://www.taxscan.in/wp-content/uploads/2019/10/Gifts-GST-ITC-Taxscan.jpg "No ITC on Inward supplies of Goods and Services given as Incentives in the form of Gifts: AAR [Read Order]")
No GST on Service of Display of Name or Placing of Name Plates of the Donor in Premises of Charitable Organisations Receiving Donation or Gifts: CBIC [Read Circular]
The Central Board of Indirect Taxes and Customs ( CBIC ) has clarified that, Goods and Services Tax ( GST ) is not applicable on the service of display of name or placing of name plates of the donor...
![No GST on Service of Display of Name or Placing of Name Plates of the Donor in Premises of Charitable Organisations Receiving Donation or Gifts: CBIC [Read Circular]](https://www.taxscan.in/wp-content/uploads/2019/10/Name-Plates-GST-Taxscan.jpg "No GST on Service of Display of Name or Placing of Name Plates of the Donor in Premises of Charitable Organisations Receiving Donation or Gifts: CBIC [Read Circular]")
Charging Low Fee, Offering or Accepting Gifts would amount to Breach of Ethics by CA, says ICAI's Proposed Code of Ethics
The Exposure Draft on the Code of Ethics, 2018 released by the Institute of Chartered Accountants of India ( ICAI ) points out that the charging of fee which is too low comparing to other...
ITAT confirms Addition since Assessee and Family received Huge Gifts and failed to prove any relationship with Donor [Read Order]
While hearing the case of Kamlesh Parwani, the Mumbai bench of Income Tax Appellate Tribunal (ITAT) confirmed the addition made by the Assessing Officer since the Assessee and family received huge...
![ITAT confirms Addition since Assessee and Family received Huge Gifts and failed to prove any relationship with Donor [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/04/Gifts-Taxscan.jpg "ITAT confirms Addition since Assessee and Family received Huge Gifts and failed to prove any relationship with Donor [Read Order]")
Gifts of more than Rs. 50,000 made by Employer to Employee is subject to GST: Govt Clarifies GST on Gift
The Ministry of Finance clarified that, Gifts up to a value of Rs 50,000/- per year by an employer to his employee are outside the ambit of GST. However, gifts of value more than Rs 50,000/- made...
