Dear Member,
One of my client want to book flight through his current account and he is sole proprietorship is this expense will entertained his personel expenses or he can entertained this expenses in firm P&L account as a expense please suggest i am waiting
Menu
Sole proprietorship firm owner travel expense for business
Replies (6)
If the expenditure is for business , the take in p and l. else personal expense .
Thanks
Mr. Raj C Doshi one thing is not cleared that sole proprietorship is an individual case then all expense his will shown in P&L or not if not then why please clear
First of all , any personal expense of proprietor Is indirectly Drawings. So it should go under drawings a
..drawings a/c under capital account.
I hope it is clear now.
Thank a lot
Recent Threads
- Tds deduction queery
- Check ITR1 on income tax Form ITR1 Instead of 1 ho
- Form 121 requirement
- Interest on reversal of ITC when ITC balance avail
- Is MirrorFly an Instant Messaging Software?
- ITR filling for legal heir
- How Can I qualify CA Final Exam?
- Wrong reporting on 22 april 2026 under article inc
- Articeship Form 107
- TAN for Multiple States
Related Threads
CAclubindia
