Dear Sirs,
Kindly advise as to how the following expenses must be presented in P&L:
1) Medical Expenses of Employee borne/reimbursed by Employer. In such a case should such expenses be shown as i) “Medical Expenses” in P&L or ii) should they be included as a part of “Employee’s Salary”?
2) Petrol Expenses of a Vehicle owned by Employee (But used for official/business purposes) is borne/reimbursed by Employer. In such a case should such expenses be shown as i) “Petrol Expenses” in P&L or ii) should they be included as a part of “Employee’s Salary”?
3) Actual Conveyance expenses of Employee is borne/reimbursed by Employer. In such a case should such expenses be shown as i) “Conveyance Expenses” in P&L or ii) should they be included as a part of “Employee’s Salary”?
Also kindly mention the relevant sections applicable to the above,if possible.
Please reply at the earliest.
Thank you
CAclubindia
