Maximum limit for Misc. Expenses in a month ?
This query is : Resolved
05 August 2010
I am working in a distributorship firm of Lubricants for HPCL and BPCL. Is there any maximum limit for Misc. Expenses in month or I can show unlimited amount as Misc. Expenses with supported Cash Memo and Bills.
05 August 2010
If expenses are relating to the business; then you can show them in the month when you incurred. There is no limit.
A proper justification should be there why you incurred such a heavy expenditure in a particular month.
Not only this question may be asked by your auditors but by the Income-Tax Department also if your case is selcted for scrutiny.
A proper justification should be there why you incurred such a heavy expenditure in a particular month.
Not only this question may be asked by your auditors but by the Income-Tax Department also if your case is selcted for scrutiny.
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