Foreign travelling expenses
This query is : Open
07 January 2009
What is the treatment of Foreign Travelling expenses by our company officials for the purpose of Project work.
A)Whether capitalise or not
B)For Annual accounts in notes of accounts expenses in foreign currency these expenses are required to separately disclose as merge in Block
C)Income Tax treatment
A)Whether capitalise or not
B)For Annual accounts in notes of accounts expenses in foreign currency these expenses are required to separately disclose as merge in Block
C)Income Tax treatment
07 January 2009
It is for the business purpose so it should be revenue expenditure and debit should go into P&L a/c.
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