Accounts
This query is : Resolved
21 May 2015
what are the tax implication on the below entry
1 director had gone to US for work and all the expenses were reimbursed at a later date and the conversion rate for $ to ₹ was on the date of reimbursement so what to do for profit of loss on exchange fluctuation?
In Accounts and tax
1 director had gone to US for work and all the expenses were reimbursed at a later date and the conversion rate for $ to ₹ was on the date of reimbursement so what to do for profit of loss on exchange fluctuation?
In Accounts and tax
21 May 2015
i think when u reimbursed the exp.. only that date is relevant to book the expense...
there wont b any profit and loss caluclation...
stil wait for some more expert views in this regard
there wont b any profit and loss caluclation...
stil wait for some more expert views in this regard
21 May 2015
when the bills are of earlier date.. and the director had paid accordingly... then why u wil make payment to director as of date's exchange rate... its just reimbursment expenses dear
21 May 2015
Actually the director paid from his pocket so it was reimbursed from the company and thats why this entry came up.
Thanks for clearing my confusion.
Thanks for clearing my confusion.
21 May 2015
that was i m saying... for out of pocket expenses which have been already incurred by director... i think exchange rate flucutation wil not b here...
still lets wait for some more expert comments
still lets wait for some more expert comments
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Applicability
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- Where to show the RCM on Rent paid to unregistered landlord
- Is Aadhar PAN linking required for opening bank account?
- GSTR-3B - Do I file nil when there is no sale but I've bought raw materials
- SEC 54 OF IT ACT
- Form 26QB for TDS on property
- RCM - commercial rent paid to URP under GST
- Gst Sales of FY 2023-24
- TDS NUMBER SURRENDER
- TDS applicability on Service through ECO
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
- Regarding einvoice taken on nil rated sales
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
