Accounting for Expences towards PPT.(Powerpoint)?

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brijesh (Querist)
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24 December 2010
Hellow,

I am a teacher, and i spend lot of money for making ppt. presentation. It is very important for my profession.
Please suggest that how do i account for such ecpences?

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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24 December 2010 Sir,
1. In case of salaried employee no deduction can be claimed as regards to these expenses.
However, expenses recovered from your employer may be treated as reimbursement and such you have not to pay tax on such receipts.
2. If you are engaged in the profession of private tuition then you can claim such expenditures against your professional income.
For showing the proper records to the Assessing Officer as well as for your record also, you must insist upon to get Bill/ Receipt for the payments you are making.

brijesh

brijesh (Querist)
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27 December 2010 Thanks for the reply,
but, actualy its my own classes. Is there any chance that i show such expences as Intangible assets as per AS 26.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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01 January 2011 In my view Power Point Presentation is not an intangible asset as per AS 26.

I am still of the opinion that as the expenditure is recurring in the nature you should show as revenue expenditure.

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