Payment above 20000
This query is : Resolved
Praveen Nigam
(Querist)
28 January 2009
whether payment of Rs. 20000 or more to an employee as travelling advance is an allowable deduction under income tax or not.
MAYUR JOSHI
(Expert)
28 January 2009
Payment of Advance is not an expense. So, there is no question of deduction under income tax. Payment to employee as advance will be debited to employee's imprest account.
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