EASYOFFICE
EASYOFFICE

regarding cash payment excess Rs.20000

This query is : Resolved 

30 September 2009 we(company) have paid cash excess Rs.200000 for funeral expenses to the family member. is it allowable or not.

pl.reply

30 September 2009 Kumar, this will form a part of drawings. Now for disallowances of expenses paid in cash above 20K, this needs to be a part of expenses dr. to profit & loss account.

In as this a drawings & never dr. to profit & loss account so allowability of such expenditure does not arise.



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