An indian company has been promoted by non-resident indians. The promoters outside India have incurred certain expenses ( conferencing equipement, Fridge) and have claimed the expenses as remibursement. The amounts are paid in indian rupees and credited to their account with a bank in India. The following queried may be answered.
When the company does not have an office outside India, is it advisable to account the office equipments like conferencing equipement, notebook and fridge.
When the amount is reimbursed in indian rupees, how about the disclosure pertaining to ' expenses incurred in foreign currency'
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