Petty cash

Petty cash of Rs.11000 was given to employee as cash cor travelling expenses and he was used tgat for 5 days for various expenses is it disallowed as expense
Replies (2)
Quick Summary
This discussion explores whether petty cash disbursed to an employee for travel expenses is a deductible business expense under Section 37(1) of the Income Tax Act. The general rule states that expenses incurred for business purposes are allowable, while personal expenditures are not. The key consideration is whether the Rs. 11,000 spent over five days was genuinely for company business.

SECTION 37(1): allowable if it expensed for company purpose, disallowed if it is related personal expenditure.

SECTION 37(1): allowable if it is expensed for company purpose, disallowed if it is related personal expenditure.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
19 September 2026
CA/Semi-CA/BCom

Pravin Sarvaiya

Mumbai

CA Inter

View Details
Company
04 September 2026
CA inter Or ca finalist

A Jaiswal and company

Lucknow

CA Final

View Details
Company
ARTICLESHIP 07 September 2026
Article/ Paid Assistant

Murali and Sumeet Chartered Accountant

Bengaluru

CA Foundation

View Details
Company
08 September 2026
Audit Executive

Thammana & Associates

Srikakulam

B.Com

View Details
Company
20 September 2026
Semi Qualified CA

Navin & Associates

Mumbai

CA Inter

View Details
Company
28 August 2026
Audit Manager

K A R M & CO

Mumbai

CMA

View Details
Company
27 August 2026
ACCOUNTANT

CHARUPREETI & CO

Noida

Graduate (Any)

View Details
Company
16 September 2026
Internal Audit - Team Lead

Consulting & Beyond

Chennai

CA

View Details