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Attention is invited to Ministry’s Circular No. 609/ 106/93-DBK dated 20th October, 1993 whereby proforma for furnishing information with regard to duty forgone under various Export Promotion Schemes was prescribed.
Circular No. 727-Income Tax Reference is invited to the Board’s Circular No. 644, dated 15-3-1993 (see Sl. No. 371) wherein it was clarified that the expenditure on provision of food or beverages by an employer to the low-paid employees will not be treated as entertainment expenditure within the meaning of the Explanation under section 37(2) of the Income-tax Act, 1961 even if the facility is provided in places other than the place of work provided the same is provided during the working hours and the expenditure is genuine
