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Querist : Anonymous

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Querist : Anonymous (Querist)
13 June 2014 Can a proprietor considered his new activa booking expanse in his account as other expanse??


And what is importance of head of expanse??
If legal expanse I treat as other expanse any problem over accounting??

13 June 2014 expense for the booking activa (if the activa is to be used for business purposes), should be included in capital expenditure.

legal expenses depending on the activity for which they were incurred, should be either capitalized or expensed out as "legal expenses"

other expenses is a general head under which miscellaneous expenditures are parked

13 June 2014 Petrol expenses for using activa for business purposes will be accounted and classified under travelling & conveyance, under sub head of conveyance


13 June 2014 yes under conveyance exp it can be booked....................

13 June 2014 still wondering where did conveyance came into picture...the activa has been just booked yet!!! and querist is wondering where to account for the booking amount...

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Querist : Anonymous

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Querist : Anonymous (Querist)
13 June 2014 Yes there is no any question of conveyance

13 June 2014 if ur wondering then pls refer the reply by mr R above my reply asking for petrol exp pls read properly b4 commenting.

13 June 2014 i was raising this question for him only. i know u just followed up...anyways, querist has replied that petrol is not being question here!


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Querist : Anonymous

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Querist : Anonymous (Querist)
13 June 2014 But if activa is for personal purpose then can I book exp in office expenses???

13 June 2014 not at all. if it is personal use. everything goes out of your personal income and not from business accounts.

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Querist : Anonymous

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Querist : Anonymous (Querist)
13 June 2014 Ohk thank u very much Nikhil Sir

13 June 2014 you are welcome Parth....


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Querist : Anonymous

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Querist : Anonymous (Querist)
13 June 2014 Sir another quarry is
In a firm can proprietor avoid depreciation on building??

13 June 2014 actually no if the same is being used for business purposes.

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Querist : Anonymous

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Querist : Anonymous (Querist)
13 June 2014 Is it compulsory to take depreciation for proprietor???


13 June 2014 well yes...depreciation is a compulsory allowance.



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