{"id":1692,"date":"2025-05-23T04:12:41","date_gmt":"2025-05-23T04:12:41","guid":{"rendered":"https:\/\/vnrdev.in\/HR_Mannual\/?page_id=1692"},"modified":"2025-05-23T04:15:08","modified_gmt":"2025-05-23T04:15:08","slug":"guideline-on-asset-claims-made-as-per-the-gadget-policy","status":"publish","type":"page","link":"https:\/\/vnrdev.in\/HR_Mannual\/guideline-on-asset-claims-made-as-per-the-gadget-policy\/","title":{"rendered":"Guideline on asset claims made as per the Gadget Policy"},"content":{"rendered":"\n<p>As per&nbsp;<strong>Section 37 of the Income Tax Act, 1961<\/strong>, expenses that are&nbsp;<strong>incurred wholly and exclusively for the purposes of the business<\/strong>&nbsp;are allowed as deductible expenditures for the company. To substantiate the&nbsp;<strong>&#8220;business use&#8221;<\/strong>&nbsp;of any claimed asset, it is imperative that:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The&nbsp;<strong>invoice must be in the name of the employee<\/strong>&nbsp;and supported by appropriate documentation (if any)<\/li>\n<\/ul>\n\n\n\n<p>In alignment with this, our Gadget Policy requires that all claims be supported with an&nbsp;invoice in the&nbsp;<strong>employee\u2019s name<\/strong><strong>(Bill to employee)&nbsp;<\/strong>to establish the asset\u2019s business purpose.&nbsp;<\/p>\n\n\n\n<p>Hence, compliance to the&nbsp;policy is necessary to ensures that:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Employees are reimbursed for a business-related expenses, and<\/li>\n\n\n\n<li>The company is able to claim such expenses as deductible business expenditure in compliance with tax regulations.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>As per&nbsp;Section 37 of the Income Tax Act, 1961, expenses that are&nbsp;incurred wholly and exclusively for the purposes of the business&nbsp;are allowed as deductible expenditures for the company. To substantiate the&nbsp;&#8220;business use&#8221;&nbsp;of any claimed asset, it is imperative that: In alignment with this, our Gadget Policy requires that all claims be supported with an&nbsp;invoice in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-1692","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/vnrdev.in\/HR_Mannual\/wp-json\/wp\/v2\/pages\/1692","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vnrdev.in\/HR_Mannual\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/vnrdev.in\/HR_Mannual\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/vnrdev.in\/HR_Mannual\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/vnrdev.in\/HR_Mannual\/wp-json\/wp\/v2\/comments?post=1692"}],"version-history":[{"count":2,"href":"https:\/\/vnrdev.in\/HR_Mannual\/wp-json\/wp\/v2\/pages\/1692\/revisions"}],"predecessor-version":[{"id":1694,"href":"https:\/\/vnrdev.in\/HR_Mannual\/wp-json\/wp\/v2\/pages\/1692\/revisions\/1694"}],"wp:attachment":[{"href":"https:\/\/vnrdev.in\/HR_Mannual\/wp-json\/wp\/v2\/media?parent=1692"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}