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Cash Payment

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(Querist)
25 July 2009 Dear Sir,

I am an accountant. I want to know that payment in cash for insurance of motor car above 20000/- in a firm is allowable or not.

May i claim expense for it in the profit & loss account.


regards,

Vipin Singh.
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CA.Tarun Maheshwari

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CA.Tarun Maheshwari (Expert)
25 July 2009 Not allowable. It shall be disallowed 100%
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CA Devanshi Gandhi (Ajani)

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CA Devanshi Gandhi (Ajani) (Expert)
26 July 2009 agree
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