HI ALL,
IF A PERSON GOES FOR TOUR FOR THE PURPOSE OF PRODUCT DEVELOPEMENT AND STAYED IN A HOTEL FOR TWO DAYS THEN HOW WE WILL SHOW EXPENSES. IS IT UNDER SALES PROMOTION OR UNDER TOUR & TRAVEL OR BY PROPORTIONATE.
THANKS
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TOUR & TRAVEL
Replies (2)
Under 'Travelling & Conveyance' a/c
It can be shown as any of both SALES PROMOTION OR UNDER TOUR & TRAVEL , but it is to be remembered that FBT rate for Business promotion is 20% but for Tour & Travel it is 5%.
so it is wise to take it as Tour & Travel to save some tax.
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