Mis.expenditure

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C.A. Dhara (Querist)
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29 June 2010 How much expebditure one co. can put under miscelloneous expenditure head?

Whats the rules of any item putting under mis. expenditure head?

Aditya Maheshwari

Aditya Maheshwari (Expert)
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29 June 2010 Expenses less than 1% can be grouped under miscellaneous expenses.

As per schedule VI
Provided that any item under which the expenses exceed one per cent of the total revenue of the company or Rs. 5,000 whichever is higher shall be shown as a separate and distinct item against an appropriate account head in the Profit and Loss Account and shall not be combined with any other item to be shown Under "Miscellaneous expenses".]

Here is a link also
https://www.caclubindia.com/experts/misc-exp-418390.asp