Consider case of firm registered providing taxable services of interior designing & taking cen vat credit on input services, all accounting going good.Now partners want to book their travelling expenses to office & home as business.As they may provide reimbursement of refreshment/travel to employees.Can owners claim their expense as business expenses?
3 Replies
CA Puru Goyal
(CA DISA)
(150 Points)
Replied 06 August 2015
Yes they can claim them as a business expenses.
Although they just need to make a note regarding these travelling and make it considerable.
Jyothis
(Article)
(1127 Points)
Replied 06 August 2015
So does it mean,what is written as travelling expenses of owner/Direcotors as travelling is an admissible expenses.Even if it is from home to office travel.Is thereany tds/other statutory requirement for same.
CA Puru Goyal
(CA DISA)
(150 Points)
Replied 06 August 2015
No Tds will not come. Since they are the partner either they can submit bills or can claim through voucher
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