Expenses

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Hi,

1. In company, Coffee and Biscuits expenses done by employer is eligilble for deduction or not and under which head 

2. In Company, Lunch to employees on special occesion done by company is eligilble for deduction or not and under which head .

3. In Company,Visit of client from Foreign for business purpose then it is deductible under which head of expense.

4. If we purchased Computer parts for company not for the purpose of sale then it will be recorded under which head assets or expense and at what rate we can charge debriciation on these asset.

Replies (1)

1. & 2. Head: Staff Welfare Expenses; Eligible for deduction.

 

3. Head: Business Promotion Expenses; Eligible for deduction

 

4. Head: Computer & Parts, Under I.T. Act, you can charge dep. under Block 10 @ 60 % p.a.

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