Exps allowable for a public ltd co

nitin suvarna (C.A FINAL) (828 Points)

19 March 2012  

hi.....

i have seen some companies booking various exps as business exps which according to me should not be allowed like personal electricty & telephone bills,fooding (includes hard drinks ),rental exps of parents ,new articles ,items not relating to business (like clothes ,bags ,sandals etc).society exps &R/M of home .Even insurance & loan being paid from co's funds,medical can be understood but the rest i cant agree of allowing such exps,in case of fooding can exps be allowed on most occasions or those which relate to promoting business   .pls give ur views in this regard.............