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Labour tiffin and dinner expenses
Sir, we are a maintenance contractor in steel industry and we paid to labour cash for tiffin and dinner for shut down job please advice in which account head we entry the said expenses
Replies (4)
You can open fooding expense account.
Welfare expenses staff
Miscellaneous expenses and 1% of revenue it must be. Now it changed. It is capitalized in 2022 as well. This is weird MCA system and Companies acts don't have information online!! All the CEO's get an email about notifications so don't worry, write them off or capitalize them, they will let you know the new procedure.
Is it 1% of revenues?
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