CASH PAID FOR THE PURCHASE OF WRIST WATCHES TO CELEBRITY IS GROUPED UNDER WHICH ACCOUNTING HEAD ?
Menu
Head of accounts
Replies (6)
I think it depends on the nature of bussiness you are doing and purpose of giving watches. Accor. to me it can be categorise in the following heads-
1. Bussiness promotion
2. Advertising
3. Honorarium....
NATURE OF BUSINESS WAS SELLING KITCHEN INTERIORS, PAYMENT MADE FOR PURCHASING WATCH,CURIOUS ETC.
Can u give me a valid purpose for which u are giving watches to the celebrity. Is it for the purpose of adversiting ur selling products.... If it is so then u should classify the same under head" Bussiness Promotion".
Under Bussiness & Promotion
General Expenses-Business Promotion
Recent Topic
- Issue with ITR2 online utility for HUF
- TDS deducted by EPFO under wrong section
- Schedule SI in ITR-2
- What is the easy way to do CA- through foundation
- Schedule FA query for this AY 2026-27
- Business income source for husband and wife
- Set off of LTCL against STCG under section 536(2n)
- Audit Workflow tool
- Is CA through direct entry easy for a commerce stu
- Dividend and withholding tax - DTAA- RSU
Related Topics
CAclubindia
