Can anybody suggest what will be the impact if expense made for office purpose has been accounted under personal expense and also expense made without proper bills and approvals
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Replies (2)
1) If the expenses related to office are accounted as personal expenses, then such expense shall be disallowed while calculating the Income from Business.
2) Such expenses shall be treated as Drawings.
Regards,
Devendra K
| Originally posted by : Devendra | ||
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1) If the expenses related to office are accounted as personal expenses, then such expense shall be disallowed while calculating the Income from Business. 2) Such expenses shall be treated as Drawings. Regards, Devendra K |
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Agree :)
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