Audit

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Sagar (Querist)
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14 April 2011 I am doing audit of one company.

While going through the ledger of Insurance expense, i found out entries of mediclaim paid to directors family.

I want to know, whether the above is a personal expense or a business expense?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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14 April 2011 It can be a business expenditure if the terms of employment of the concerned director permits the company to pay such amount, otherwise a personal expense of the said Director.

CA Ravi Sisodia

CA Ravi Sisodia (Expert)
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14 April 2011 agreed, if its includs under the terms of employment(contract from director by company) then business exp otherwise personal exp.

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