Dear Sir....
Company paid insurance for companies car can we show that under Repairs& Maintance head...?
Rly plz...
Bhaskar Unnikrishnan CPA CMA
(Accounts / Administration)
(414 Points)
Replied 04 September 2012
CA ADITYA SHARMA
(CA IN PRACTICE )
(16719 Points)
Replied 04 September 2012
| Originally posted by : Bhaskar Unnikrishnan | ||
 |
Better show this under separate heading "Insurance". Not suitable to categorize under "Repairs and Maintenance" head... |
 |
agreed
CA Apoorva Gaurav
(CA)
(368 Points)
Replied 04 September 2012
| Originally posted by : CMA Bhaskar Unnikrishnan MBA | ||
|
|
Better show this under separate heading "Insurance". Not suitable to categorize under "Repairs and Maintenance" head... |
|
agree...
schedule VI asks to categorise expenses under three heads in Other Expense :-
1) Manufacturing expense
2)Administartive expense
3)Selling & Distribution expenses
thus, show it under Admnstrtv exp.
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