dear members
if we take our business client for lunch, then what account shall we open.
regards
Ashish Jain
(.Net Developer)
(641 Points)
Replied 19 August 2015
it will be treat as business promotion exp. and u need to open a ledger in your books with the name of business promotion
Shishir Nayak
((Expert))
(369 Points)
Replied 19 August 2015
It has to be treated as business entertainment costs.
ssskumar
(-)
(29 Points)
Replied 20 August 2015
Dear mambers,
Can you please give me examples which come under head Hospitality Expenses/Charges.
Thanks in advance
vishnu bhardwaj
(Tax Advocate)
(212 Points)
Replied 20 August 2015
BUSINESS CLIENT LUNCH IS EXP. OF SALES PROMOTION EXP.(INDIRECT EXP.) AND HOPITALITY AND MEDICAL EXP. OF STAFF WALFARE EXP(INDIRECT EXP.)
Rahul Verma
(CA-Final)
(484 Points)
Replied 20 August 2015
U can book expenses in business promotion a/c
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