Bribe

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

10 September 2012 a company is paying Rs1500 per shipping bill to custom officer to get duty drawback claim.. u can say a bribe... its diallowable expenditure under I T act 1961... I want to knw hw we can shw ths transaction so tht its seems a general expenditue made by the company ralated to its business allowable u/s 37(1)

Pankaj Gupta

Pankaj Gupta (Expert)
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10 September 2012 If the whole year's bribe paid is not that big amount, then it can be shown under head misc expenditure or stationery purchased or labour charges paid etc.
But remember that you will have to prepare fake invoices.(in case you shows it as labour charges or misc exp then even "KACHHA BILL" will work.)