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(Querist)
28 November 2014 Are Insurance expenses incurred by Director/proprietor to be booked in compny /firm financial statement s like in PnL
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Rupesh Jain

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Rupesh Jain (Expert)
28 November 2014 no you can not book as exp. for director its part of his salary. and under prop. firm its part of his drawings.
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AJIT SINGH

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AJIT SINGH (Querist)
28 November 2014 OK then what kind of those expenses which are showing in many of P&l accounts under the heads Insurance Exp.



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Rupesh Jain

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Rupesh Jain (Expert)
29 November 2014 its like building, plant & Machinery, transit insurance, employee accidental insurance, vehicle insurance, stock insurance, cash theft open policy, stock inward/outwards open policy etc.

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