Menu
Accounting head for the expense
Dear Sir/Ma'am
I'm at a client site and have the following query
Under which head of accounting should the following expenses be shown
1) Purchase of forms like F Form etc
2) Purchase of stamp papers
3) Amount paid for new TIN no certificates
4) Some expenses which are paid at various govt offices under the table
My client has charged all the expenses under Misc expense
Replies (2)
No other legal treatment can be given to such type of transactions. being an auditor you must consider the concept of materiality. If these amount arre so material that they can change the view of user after seeing the financial statements then they should not be part of Misc exps, otherwise its ok to show them as Misc Exp
you can claim all the above expenses as 'Legal Fees & Expenses' account, except under the table expenses.
Under the table expenses can be shown as Withdrawal of Capital (Proprietor or Partners) in case of so necessity.
Under the table expenses can be shown as Withdrawal of Capital (Proprietor or Partners) in case of so necessity.
Recent Topic
- Total income less than 12 lakhs but after processi
- Is Getsvision Solutions right for SMTP bulk email
- Queries on Stock/ETF gifting.
- Adding bank account for the deceased for ITR refun
- SALE OF EQUITY ON THE LAST DAY OF THE FY 2024-25 N
- Which ITR form
- Form 103 id delayed for submission for more than 1
- Composition scheme
- Input tax credit under igst under insurance compan
- ITR Form to be used
Related Topics
CAclubindia
