Go Ad-Free on CAclubindia with Daily Mobile Updates. Subscribe Now!

Regarding income tax

Davender Kumar (MANAGER ACCOUNTS AND FINANCE) (60 Points)

01 October 2020

If any company employee take money from company as imprest for doing a daily basis expenses for branch than what is consequences for employee ?

Reply
Follow
Share

1 Replies

Sagar Patel (Tax and Business Consultant) (11611 Points)
Replied 02 October 2020

There is no tax implications in hands of Employee, because it's not a income of Employee.
You have taken Money advance as imprest and that using it for Company business purposes, if there is any balance in your hand than also it's considered as balance with Company only, not you.