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Asked by Prashant on :Jul. 12, 2018

Our company incur Rupees one lac for the advertis…

Our company incur Rupees one lac for the advertisement in a brochure of a political party. Is it el…

Our company incur Rupees one lac for the advertisement in a brochure of a political party. Is it eligible for the deduction?

0

Jeeba Jul. 12, 2018

As per section 37(2B) in respect of expenditure incurred on advertisement in a brochure of a political party. Therefore, the expenditure incurred on advertisement in a brochure of a political party would be disallowed while computing business income/ gross total income.

However, the said expenditure incurred by an Indian company is allowable as a deduction from gross total income under section 80GGB.

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