Hi
In the context of repairs and maintenance, I have paid 1000/- for repairing a computer where there is an ERP and bookkeeping is done on it. If I paid the tech guy with cash and recorded it, will I get a corporate tax benefit?
Txs
Hi
In the context of repairs and maintenance, I have paid 1000/- for repairing a computer where there is an ERP and bookkeeping is done on it. If I paid the tech guy with cash and recorded it, will I get a corporate tax benefit?
Txs
Yes, you can debit it to maintenance expenditure.
Deductible against profits under P&L acc.
Ok! I got it!! Daily operating costs as per AS 10 are expensed.
Correct.
Good Luck.
CAclubindia
