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of <h1>New Rules for Reporting Administrative Expenses in Insolvency: Categories Include Rent, Travel, Legal Fees, and More.</h1> The Insolvency and Bankruptcy Board of India (Form of Annual Statement of Accounts) Rules, 2018, outlines a detailed schedule for reporting other administrative expenses. It includes categories such as purchases, labour and processing, utilities, repairs, rent, vehicle expenses, communication, travel, seminars, subscriptions, legal fees, hospitality, professional charges, provisions for bad debts, and other miscellaneous expenses. This schedule is intended for the accurate reporting of financial activities related to insolvency and bankruptcy proceedings, ensuring transparency and accountability in the financial statements of the concerned entities.
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