Expenses
This query is : Resolved
13 June 2014
Which type of expenses can be debited without bills ? What is the limit ?
13 June 2014
there is no limit and that is not allowed and if u book and found without any supprtings then its a case of fraud and income tax authorities can penalise you.
13 June 2014
I am talking about such expenses like Tea & Refreshments, Petrol, Mobile Recharge, Travelling etc.
13 June 2014
if there is no supporting available then you cant do much but it must be reasonable that a person of sound mind can think of.
for petrol u can keep the payment reciept given, travellling by bus u can have tickets,same for railways.......so in short wherever possible u must keep.
for petrol u can keep the payment reciept given, travellling by bus u can have tickets,same for railways.......so in short wherever possible u must keep.
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Nikhil Kaushik
(Expert)
13 June 2014
Dear Chimanlal,
if you with a very strict reading income-tax rules, any expense more than Rs 25 requires bills to back it up.
please refer proviso to Rule 6F(2)(iv)
if you with a very strict reading income-tax rules, any expense more than Rs 25 requires bills to back it up.
please refer proviso to Rule 6F(2)(iv)
Vishnu Saboo
(Expert)
16 June 2014
without any supporting booking expenses are not acceptable, you must keep atleast something to prove that u incurred expenses.
Vishnu Saboo
(Expert)
16 June 2014
without any supporting booking expenses are not acceptable, you must keep atleast something to prove that u incurred expenses.
Vishnu Saboo
(Expert)
16 June 2014
without any supporting booking expenses are not acceptable, you must keep atleast something to prove that u incurred expenses.
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