Audit

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Querist : Anonymous

Querist : Anonymous (Querist)

13 June 2014 Can a proprietor considered his new activa booking expanse in his account as other expanse??

And what is importance of head of expanse??
If legal expanse I treat as other expanse any problem over accounting??

Nikhil Kaushik

Nikhil Kaushik (Expert)
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13 June 2014 expense for the booking activa (if the activa is to be used for business purposes), should be included in capital expenditure.

legal expenses depending on the activity for which they were incurred, should be either capitalized or expensed out as "legal expenses"

other expenses is a general head under which miscellaneous expenditures are parked

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R.KANDASUBRAMANIAN

R.KANDASUBRAMANIAN (Expert)
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13 June 2014 Petrol expenses for using activa for business purposes will be accounted and classified under travelling & conveyance, under sub head of conveyance

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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13 June 2014 yes under conveyance exp it can be booked....................

Nikhil Kaushik

Nikhil Kaushik (Expert)
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13 June 2014 still wondering where did conveyance came into picture...the activa has been just booked yet!!! and querist is wondering where to account for the booking amount...

Querist : Anonymous

Querist : Anonymous (Querist)

13 June 2014 Yes there is no any question of conveyance

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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13 June 2014 if ur wondering then pls refer the reply by mr R above my reply asking for petrol exp pls read properly b4 commenting.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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13 June 2014 i was raising this question for him only. i know u just followed up...anyways, querist has replied that petrol is not being question here!