Treatment of profession tax for company and directors

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student
56 Points Posted on 23 June 2016

Hi All,

Kindly share your views on the accounting treatment for "Profession Tax for Company and Directors"

I feel this expenditure should be debited to "Rates and Taxes" as there is no deduction from the directors salary for this amount.

 

Am i right in my view?

 

Thanks in advance

Pranav

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On 23 June 2016 at 18:13 Report
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Management Consultant
106 Points Posted on 23 June 2016
it should be the part of perquisites of director's salary, as the amount paid on behalf of director.
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On 23 June 2016 at 18:34

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