Expense incurred and got reimbursement later-Liable FBT
This query is : Resolved
24 September 2008
To shift house hold articles of EXPAT, expense incurred and debited to Staff Welfare.
Later, we are getting refund from the foreign company whatever we have incurred
as expense for this purpose.
Net effect of P & L is zero. Is there
any liablity under FBT?
Amit Sharma
Later, we are getting refund from the foreign company whatever we have incurred
as expense for this purpose.
Net effect of P & L is zero. Is there
any liablity under FBT?
Amit Sharma
Guest
Guest
(Expert)
25 September 2008
NO
26 September 2008
If the same item is reimbursable, it is to be shown under advance and credit that account when reimbursement occurs.
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