Diwakar (Manager-Cost Control) (74 Points)
15 March 2011A private limited company incorporated under Companies Act 1956 has incurred more than 150000/- on treatment of his staff suffered heart attack. Later on the staff passed away.
What treatment there will be in the books for the expense incurred by the company for deseased staff. To what extent company can assist the survivor of deseased staff.
Kindly give your expert opinion from Income tax point of veiw.
Regards
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 21 March 2011
expenses may be booked under"workmen welfare expenses" subject to company rules and policies.
CA Saiyum khan
(Practicing CA)
(690 Points)
Replied 22 March 2011
If the deceased employee was not relative of the company then company can claim the expense as per company policy to the extent it has incurred for servivor of deceased.
Live Course on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance
Live Course on EPF & ESI Act - Mastercourse(With Govt Certificate)
CAclubindia
