entry for bribe
This query is : Resolved
23 March 2011
Please let me know what should be the entry for bribe
how we can show the bribe amount in our books if all the transactions are in white
how we can show the bribe amount in our books if all the transactions are in white
Hitender Gaur
(Expert)
24 March 2011
To give or to accept bribe is punishable under IPC. You can't show this amount in books of accounts. Please do the adjustment as per nature of your business.
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CA Gunjan Kedia
(Expert)
24 March 2011
Hi sandeep,
although paying bribe is a punishable offense, it is sometimes inevitable to do so. u can classify this amount as "industry relations expense" or any other suitable head.
gud luck !!
although paying bribe is a punishable offense, it is sometimes inevitable to do so. u can classify this amount as "industry relations expense" or any other suitable head.
gud luck !!
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CA.ViVeK M ACA
(Expert)
26 March 2011
Why you are going to account the same in real name? why cant you account the same under the head Miscellaneous expense or Admin other head and giving a suitable narration for the same
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