Auditor conveyance reimbursement

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

01 February 2011 plz tell in which accounting head the "auditors lunch and conveyance" should be debited?? whether it should be debited in the conveyance A\C or consultancy fees

plz reply......

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
Follow

01 February 2011 It can be debited " Audit expenses- Out of pocket"

Querist : Anonymous

Querist : Anonymous (Querist)

01 February 2011 not in conveyance? plz tell me the reason.

CA Debasish Banerjee

CA Debasish Banerjee (Expert)
Follow

02 February 2011 Audit Fees is what you pay for the service recd by you. All other expenses incurred by the auditor are Audit expenses as stated by Rameshji. It is not conveyance as conveyance is what you pay to your employees / personnel for performing their duties. Auditors expenses for travelling, lunch, conveyances are 1) incurred by you to be paid directly ( if you treat it as conveyance then till last year you had to pay FBT on such expenses ); 2) incurred by the auditor and you reimburse ( in such cases you have to deduct tax ); 3) expenses incurred by the Auditor and it is not reimbursable ( i.e., without any other expenses other than Audit Fees ). You book the expenses for the purpose it is incurred and in this case for Audit.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Leena Rachh

Govind Mundada

svgovindaraju

venkanna setty

YARRAMREDDY M

Subscribe Now

Auditor conveyance reimbursement

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA