Personal expenses of a director

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P dandekar (Querist)
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25 September 2012 Sir,

Thera is query about perosnal exp incurred by director in a pvt ltd co.
During the fy 2011-12 there is no perosnal expenditure incurred by the director , then why our CA has adj amount in the computation of Income tax saying that this just an adjustment.Which i have not followed.
Will AO not bother if they notice this simply because we pay more tax or no tax since there is a refund.

Can such adjustment be made in the computation of ITax whether perosnal exp exist or not .

pl reply.

There are several querries which are never resolved why?
Pdandekar

Amol S Joglekar

Amol S Joglekar (Expert)
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25 September 2012 that is how UNACCOUNTABILITY of money starts. This is in reality unaccounted money. There are always 2 types of errors in every system. 01. The transactions which should not have been accepted, get accepted. and 02. The transactions which should have been accepted, get rejected. We have to live with this. That is life.

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