Business travel card
This query is : Resolved
24 December 2013
Hi,
One of my client (pilot)frequently travels abroad, as such the company has given him a current account in which company deposits money for his expenses over there...he has saved some money out of those expenses and now wants to withdraw it...
please guide me on how this would be treated for the purpose of tax
One of my client (pilot)frequently travels abroad, as such the company has given him a current account in which company deposits money for his expenses over there...he has saved some money out of those expenses and now wants to withdraw it...
please guide me on how this would be treated for the purpose of tax
02 January 2014
The amount that is left in the account belongs to the company and NOT to the employee.
If the employee wants to withdraw the same with the permission of the company, the same will be taxable in the hands of the employee as salary.
However, if it is paid as reimbursement of expenses (against expense bills) then it will NOT be taxable.
If the employee wants to withdraw the same with the permission of the company, the same will be taxable in the hands of the employee as salary.
However, if it is paid as reimbursement of expenses (against expense bills) then it will NOT be taxable.
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