Become a Govt. Certified GST Practitioner in just 60 hrs. Register Now!

Bribe paid to police

abdul basit (Student CA - Final) (41 Points)

26 June 2015

I want to the head of account to be debited in case the bribe paid to Police in case of Limited compnay?????

Reply
Follow
Share

10 Replies

Kumar Gaurav (Going...to be C.A soon...) (1624 Points)
Replied 26 June 2015

Yo can not debit the amount paid towards bribe as it is illegal and ill be disallowed accodingly as well

Upgrade to CAclubindia Pro. Subscribe Now!

Vikash Kumar Gupta (None) (29 Points)
Replied 26 June 2015

Bribe is illegal so no entry allowed. It should be borne by TCWG. However some genius use head like cash lost in transit, loss due to fake currency, damaged notes.

Raza Murad.A.R (CA Final) (51 Points)
Replied 26 June 2015

Enter comment here

Rahul Joshi (Student CA ) (33 Points)
Replied 26 June 2015

deduction is not allowed as a bussiness expense

anil jaiswal (student) (112 Points)
Replied 26 June 2015

Dr it with another name to take tax benefit

Upgrade to CAclubindia Pro. Subscribe Now!

antonov2015 (MBA) (26 Points)
Replied 26 June 2015

Oh , thank you, I have found that isskal very good that you've found thanks) )

chandra (student) (528 Points)
Replied 27 June 2015

What a question1 Has police given you signed vouvher for bribe paid so that you can support your entry in the books of Account?

(Guest)

No Entry for this transaction. As we know that there is no difference between legal and illegal income according to I.T ACT 1961. Entry shall be passed on the basis of source document ( i.e., cash memo, Voucher , Cheque, debit note, Credit note etc ). No police officer gives any cash memo or any other document against bribe.