whether expense is allowed on the basis of duplicate copy of invoice under income tax act 1961
11 Replies
CMA RAVI
(ASSISTANT MANGER - FINANCE)
(478 Points)
Replied 27 December 2012
Expense should always be accounted for on the basis of original invoice as a healthy practice
Saurabh Toshniwal
(ca final)
(2363 Points)
Replied 27 December 2012
ravi sir,I am not asking for healthy practice, i want to know whether it is allowed or not under income tax act
kavitha
(studying final)
(830 Points)
Replied 27 December 2012
i think it is allowed if u give reasonable explanation
praveen
(Chartered Accountant)
(6971 Points)
Replied 27 December 2012
If you have a original invoice then definitely allowed.
If you do not have original invoice but have a duplicate - then you are at some kind of risk.
But during any assessment or scrutiny the officer may not check each and every invoice unless he has a doubt that some expenditure is claimed wrongly.
For E.G in construction of building you have shown only cement purchase and there is very little purchase of sand etc.
lokesh
(CA FINAL)
(81 Points)
Replied 28 December 2012
Expenses will be allowed on the basis of duplicate invoice..
Vaiibhav Gupta
(Founder & Promoter JSR Fincon Inc)
(89 Points)
Replied 28 December 2012
allowed in income tax .get is stamped as CTC and signed by the issuer of invoice
manoj kumar
(student)
(41 Points)
Replied 28 December 2012
I totally agree with the reply of CA Praveen.Nice and accurate answer is given by him.
Pulkesh Mehta
(Chartered Accountant)
(243 Points)
Replied 29 December 2012
You have to get it certified by the issuer of Invoice ,if and only if original Invoice is not traceable.
venkatesh
(learner)
(116 Points)
Replied 29 December 2012
whether if authorised signature and seal affixed in duplicate copy of invocie it is ok otherwise it is not a allowable expenditure.
Durga Prasad
(Trainee)
(392 Points)
Replied 29 December 2012
If Duplicate copy is issued by the same person with authorised signatory(with stamp), then it can be considered.
Recent Topics
- CLAIMING OF U CLAIMED RCM
- Building construction works
- REGARDING GSTR-9 F.Y 2023-24
- Rectification to decrease income in SCHEDULE OS
- Can Statutory Auditor of a subsidiary become concu
- Client Asking for the Revised Invoice
- Share office desk in bkc, near family court
- 80D claim for payment paid by parent
- TDS on purchase of Flat under subvention scheme be
- GST registration for medical shop in Karnataka
Related Threads
CAclubindia
