13 November 2009
Tell me what are going to comprise of out of pocket expenses.
The expenses incurred by auditors and reimbursements for conducting audit like conveyance, etc. Or the expenses incurred by client for auditors also. like the lunch, refreshment expenses, telephone (std) charges can also be covered if material. Also, what will be the impact under Income tax from deduction point of view. ??
14 November 2009
hi the out of pocket expenses means only the expenses incurred by the auditor himself for the purpose of the audit.the expenses incurred by the client does not come under the meaning of out of pocket expenses.there is no need to deduct tds on the out of pocket expenses claimed by the auditor.
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