Hi guys i need urgent reply on this query.
Suppose a company has incurred conveyance expenses for a client's assignment and the same has been debited under the head 'Conveyance' as Indirect expenses. Now later if the company gets reimbursment for the conveyance expenses incurred by it from the client and the same amount is credited under the head 'Conveyance', then do I still have to charge FBT on whatever has been debited under the head 'Conveyance' or do I have to charge FBT on the difference of Debit and Credit under the head 'Conveyance'??
CAclubindia
