We are being debited with the electricty charges apportioned to our usage by the Co owning the building where our office is situated, one of the Director of our Co is the promoter of this Co owning the building. They would provide us the electricity bill as back up document and will be treated as reimburement. Will this transaction need Central Govt. Approval u/s 297.
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Section 297 approval for reimbursement expenses
Replies (1)
Reimbursement of expenses will be out of scope of Section 297 since ultimate consideration is goving to outsiders and not to the other company.
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