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Fuel Expenses
If we dont show any Assets in balance sheet but we claim fuel expenses in p&l a.c. is it correct??
Replies (4)
You can claim if it allowed and besides the company need not own a car, it can rent a car or borrow a car
Yes, you may claim if it is related to business.
You can enter in p&l account if it relates to business
Yes you can claim fuel expenses in p/l a/c as it is an indirect expenses without showing assets in balance sheet
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