I would like to know if a Pvt. Ltd. Co. can pay in advance for their director's/employee's training and development in the current financial year for the next financial year? How will it be treated? How much can a Pvt. Ltd Co. spend on an employee's/director's training?
02 March 2020
Yes, Private Limited company may pay Expenses in advance subject to TDS but while finalizing books of accounts entry for Pre-paid expenses is required to be made. Amount of Expenses depends upon nature of business in which company is engaged.
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