Abhishek Ranka (Accounts and Tax Manager) (62 Points)
30 July 2016Director of a Pvt. Ltd. Company is using his personal credit card for the company purpose to the extent of 95% please suggest if he can claim Credit Card charges and Service Tax in companies books? And in such a case the benefits earned on the card say rewards also to be accounted in companies books or what?
CA SANKET GARG
(Sanket Garg & Company )
(838 Points)
Replied 30 July 2016
He can claim Service Tax and Credit Card Charges if he has proper bills for Company Expenditure. The reward points will not be accounted for. If the reward point is used for Company purpose and some charges deductions will be there then those charges can be shown in Company books.
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