The PIC Claims refers to the two methods, tax deduction or cash payout. These claims are submitted by businesses that are eligible.
To be eligible, business have to have incurred expenditure in any of the six qualifying activities. There are several cases where businesses tend to make certain mistakes when claiming these tax deductions, which may lead to them being penalized. To keep away from any future punishments, business organizations ought to observe the accompanying missteps.
- Common mistakes to avoid for PIC claim
- Claiming PIC on non-qualifying expenditure