If the director of a company visit abroad for official purpose from 23-03-2008 to 12-04-08. So in this case the expenditure of Rs 35049 be divide into this years exp and prepaid exp. And if yes then what is the base of division.Is it 50-50. or based on days. pls rehelp me.
Menu
Can Travelling Expense (Foreign) be prepaid
Replies (3)
No, prepaid to be made, you may debit these amount in "Advance Travell account" in the name of Director.
These account will be reversed on booking of expenses.
On the basis of the day to day expenditure statement of the director or on the basis of his declaration or on the completion of his travel, whichever is consistantly followed.
Arun, u cant make thses expenses as prepaid.............
It will be better trate as an travelling advance and set off the same once all expenses are booked.....
If the director is travelling extensivelly the its batter to bifercate the expenses on daily basis........
But it will be preferable to follow advance method...as this belongs to FY closing.
Let me know the actual tratement given...........
Recent Topics :
- GSTR 9 LATE FEE
- Best Online Mock Test Series for CA Inter January
- COST OF IMPROVEMENT
- Pillows and Mattresses
- GST Applicability for Reg. / Un-Reg. Indian custom
- Amended GST Act & Rules
- FAST DS 2026 MAIL QUERY
- Does Anyone need CA Foundation books of May2026 at
- Last day for ITR-U for AY 2023-2024 (FY 2022-2023)
- Sale of shares in indian company by a non resident
Related Topics :
CAclubindia
