Whether expenditure on gifts under trade schemes or for promotion of companys products to distributors/retailers is liable to FBT?
Ordinarily, a gift is defined as anything given or presented without consideration. Therefore, expenditure on gifts under trade schemes or for promotion of company’s products to distributors/retailers, falls within the scope of the provisions of clause (O) of sub-section (2) of section 115WB and, accordingly, is liable to FBT.
Related Questions
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