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.
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.
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
CAclubindia
