dear team
a company is paying the telephone bills of one of director in cash, now my query is whether company can claim it in its profit and loss account and if yes in which head?
can company take input service tax benifit on the same?
dear team
a company is paying the telephone bills of one of director in cash, now my query is whether company can claim it in its profit and loss account and if yes in which head?
can company take input service tax benifit on the same?
If such expenditure is for business purpose, then it can be accounted and also input service credit can be taken i think. I find no exclusion of telephone exps from input service definition, as defined u/r 2(l) of CCR.
before taking credit be ensure that the phone is used as input service for providing taxable output service. normally telephones installed on working sites only come under this criteria
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