entry for bribe

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sandeep (Querist)
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23 March 2011 Please let me know what should be the entry for bribe

how we can show the bribe amount in our books if all the transactions are in white

Hitender Gaur

Hitender Gaur (Expert)
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24 March 2011 To give or to accept bribe is punishable under IPC. You can't show this amount in books of accounts. Please do the adjustment as per nature of your business.

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CA Gunjan Kedia

CA Gunjan Kedia (Expert)
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24 March 2011 Hi sandeep,

although paying bribe is a punishable offense, it is sometimes inevitable to do so. u can classify this amount as "industry relations expense" or any other suitable head.

gud luck !!

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CA.ViVeK M ACA

CA.ViVeK M ACA (Expert)
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26 March 2011 Why you are going to account the same in real name? why cant you account the same under the head Miscellaneous expense or Admin other head and giving a suitable narration for the same

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