Reimbursement fees received is income

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Querist : Anonymous

Querist : Anonymous (Querist)

07 December 2015 Hi we have received 56000 from clients for fees paid by us to govt for filling. It will be treated as income or not.

CA CS Jainam Shah (Expert)

07 December 2015 No it will not be treated as income. It will be treated as reimbursement of expenses.

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Querist : Anonymous

Querist : Anonymous (Querist)

08 December 2015 under which head it will needs to be shown.

CA CS Jainam Shah (Expert)

08 December 2015 It will be shown as outstanding from client and their account will be cleared off when amount is received from them.

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Querist : Anonymous

Querist : Anonymous (Querist)

08 December 2015 but reimbursement exp receipts needs to shown in which head like indirect exp, indirect incomes.

plz reply.

CA CS Jainam Shah (Expert)

08 December 2015 You can show as a debtors. When you receive payment from client then you can clear account.

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