Limit - Director's travelling expenses

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Limit - Director's travelling expenses
Query (Issue) Started By: - Adoni Raghavendra Dated:- 18-2-2009 Last Reply Date:- 19-2-2009 Corporate Laws / SEBI / LLP
Got 1 Reply
Companies Law
Is .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... there any limits to be restricted for a "Private Limited Company" for incurring expenses under the head "Directors' Travelling Expenses" for personal and official tour as per "company act 1956 and as .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... per Income Tax Act, 1961. Please Brief me with related case laws if possible. Reply By Surender Gupta: The Reply: Any expenses which are booked to the accounts as expenses must be reasonable and rel .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ated to business activity. Neither the companies act nor the income tax act allows personal expenses. You may also refer to related accounting standard issued by ICAI in this regard. Obviously the iss .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ue is debatable to the extent that sometime it is difficult to distinguish what is personal and what is official.
Discussion Forum - Knowledge Sharing .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X