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Csr

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(Querist)
09 September 2019 IS CSR EXP. IS ALLOWED AS EXPENDITURE.

IN WHICH A/C CSR EXP. DEBITED TO PROFIT AND LOSS A/C
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Gokul Sharma

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Gokul Sharma (Expert)
10 September 2019 yes it is allowable expenditure... u can book in other exp sub head csr activities expendituee
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CS VENKATARAMANAN S

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CS VENKATARAMANAN S (Expert)
14 September 2019 Yes.

In cases, where an expenditure incurred on any of the activities mentioned in Schedule VII, is of revenue nature, the same should be charged as an expense to the statement of profit and loss.

In case the expenditure incurred by the company is of such nature which may give rise to an ‘asset’, the company needs to analyze whether the expenditure qualifies the definition of the term ‘asset’ as per the Framework i.e. whether it has control over the asset and derives future economic benefits from it.
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