Payment on behalf of client
This query is : Resolved
17 February 2012
our co. had made a payment of rs 5.50 lacs on behalf of our client ,as a membership fees of golf club, how to deal with this entry and under wht head, any decided case law
18 February 2012
You can show this amount as recoverable from your client under " Current Assets"
18 February 2012
but this amount is not recoverable in future? then what to do?
20 February 2012
Expense off this. I dont know whether it is allowable as deduction in your ITR
Guest
Guest
(Expert)
02 March 2012
In case the expense is related to promotion of business then transfer to business promotion expenses. In many cases corporates gifts membership fees of clubs, gift vouchers, etc with aim to impress & build strong relation with clients/ custmores.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS Challan - change of FY 2025-26 to TY 2026-27
- Gst registered proprietorship firm
- Price inclusive or exclusive of GST while made entry in P& L Account
- Minimum tax payable to file Updated return
- AUDITOR APPOINTMENT FOR THE YEAR ENDING MARCH 27
- Salary from Qatar in Dollars in India
- TDS on purchase of under construction property from a reseller
- GST ISSUE OF INPUT AND OUTPUT GST
- Change Of Karta In Case of Death
- GST Intimation due to Government took possession of Business Premises under PPE Act
- Non filing of I T Returns
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
