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Accounting treatment

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(Querist)
03 May 2008 What should be the accounting treatment for expenses incurred on entertainment of clients? If we show it as Marketing & Sales Promotion Expenses than whether we have to pay FBT on it.
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CA. Yayati Tyagi

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CA. Yayati Tyagi (Expert)
03 May 2008 yes, just by changing the name you can not change the nature of expense. You still have to pay FBT.
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Priyanka M. Solanki.

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Priyanka M. Solanki. (Expert)
03 May 2008 Yes, FBT will be leviable on such Exps.
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