kriru (Software Engineer) (32 Points)
23 April 2011Hi,
I have a proprietary firm Reveven Venetures registered in Ahmedabad where I Amit Kulkarni is the sole proprietor.
I am currently in pune.
I want to show Internet Bill I use here in my expenses as the company works in software field.
My question is - Bill is for an address in pune while the company is in ahmedabad . Will this be an accounting issue?
Apart from the address part , everything else is legit since its a computer firm
Please guide.
Vivek Gaur
(CA Final)
(346 Points)
Replied 23 April 2011
If internet is being used for business purpose, it can be charged to firm P&L.
Address does not matter.
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 23 April 2011
| Originally posted by : kriru | ||
 |
- if company does not have any branch in pune, then who is using it in pune, is it the proprietor himself, and his residence is in pune? if yes or no then in both the cases
- how the bills are paid? by cash ? - avoid cash payments of such bills, use the company cheque / netbanking to pay such bills, to establish the direct nexus towards the use and payment,
|
 |
vaseem
(Tax Consultant)
(76 Points)
Replied 26 April 2011
as the expenses is related to business it is deductable
no issues relating to address
CA.PARVEENSAINI@gmail.com
(FINANCE OFFICER)
(29 Points)
Replied 26 April 2011
As the expenses reletated to business , it is deductable, Address doest matter.
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Survey, Search and Seizure under Income Tax Act 1961
CAclubindia
