Question ID :
44331
Which expenses can be claimed from Income Of Sports Player On Contract basis while auditing ??
Which expenses can be claimed from Income Of Sports Player On Contract basis while auditing ??
Posted by
ARIHANT JAIN
on
Jul 23, 2022
Filed Under
DIRECT TAXES
All expenses directly related to his / her sports activity and paid through the banking channel and you have adequate supporting documents. The expenses incurred in cash may also be claimed subject to cash withdrawal and adequate receipt as well as bill from the goods or service provider.
If TDS provisions are applicable and if the sportsman/women is liable for deduction of tax then obviously the aspect shall be kept in mind.
Posted by
CA. JHA SHANKAR KUMAR on
Aug 01, 2022
Answer ID :
83547
All expenses directly related to his / her sports activity and paid through the banking channel and you have adequate supporting documents. The expenses incurred in cash may also be claimed subject to cash withdrawal and adequate receipt as well as bill from the goods or service provider.
If TDS provisions are applicable and if the sportsman/women is liable for deduction of tax then obviously the aspect shall be kept in mind.
Posted by
CA. JHA SHANKAR KUMAR on
Aug 01, 2022