09 August 2008
Miscellaneous expenses are those expenses which are not broadly classifiable and which are not of a recurring nature and not related directly to the activity of the concerned enterprises. As per Income Tax the expenses covered by section 37 generally fall under the class of Miscellaneous Expenses. Moreover, expenses which are less than 1% of the sale, turnover or the receipt are not required to be disclosed under the specific head of that expenses and the nature and the recurrence suggests that these may be grouped under a general head may fall under the Miscellaneous Expenses category.
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