rembursement of expense
This query is : Resolved
23 December 2010
the director of company has paid hotal expense through his credit card. after few days the company has deposited the same amount to his bank account. whether the expense is allowable for the company. what will be a tax treatment of this
23 December 2010
If the director has incurred the expenditure for the purpose of company's business and company reimburses it then the said expenditure is an allowable business expenditure.
24 December 2010
else it wil added to the directior remuneration and accoringdly provisio n of the it law will be applicable
24 December 2010
Also refer >> https://www.caclubindia.com/share_files/tds-rate-chart-fy-2010-11-ay-2011-12--26034.asp >> https://www.caclubindia.com/share_files/files_download.asp?files_id=33659 <<<
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