Dear sirs,
The facts are as follows:
A company (Assesse) gives advances to its employee's in modes other than those specified (i.e cash, etc.)who incur various expenses on behalf of the company, upon incurring of expenses a journal is passed
Expense A/c.. dr
To Advance A/c
My doubt is whether dis-allowance is applicable or not, If applicable, whether its applicable when.,
1. Payment exceeding 20000 is made by company to employee. or
2. Passing of journal exceeding Rs.20000 when exp is incurred. or
3. Employee makes payment exceeding 20000 to third party.
Pls Clarify..
Thanks in advance for your efforts