Director expenses- urgently

Save Share

This query is : Resolved

Shiva Prajapat (Querist)

05 September 2017 Dear Sir/Madam,

In a Pvt Ltd Company have sole Directors(Husband & Wife) only.
1. Can we booked expenses of his children's education fee etc. in company indirect expenses account.
2. Director's telephone, Conveyance (Diesel/Petrol/Vehicle service) exp. in company expenses account.

3. Can we paid online Govt. Taxes like GST payment through director's bank account(Net-Banking) because company's bank account not having Net-banking.

Thanks & Regards,
Shiva Prajapat
9887565744

sivaram

sivaram (Expert)

05 September 2017 You can pau childrens school fee but it will be included as taxable perquisite while computing the directors income
If the expenses are exclusively for business you can pay telephone and petrol expenses if partly personal or partly office use perquisite valuvation in computation of salary income of the director
better apply net banking facility in the companys account for paying the taxes to goverment which every bank will provide

sivaram

sivaram (Expert)

05 September 2017 You can pau childrens school fee but it will be included as taxable perquisite while computing the directors income
If the expenses are exclusively for business you can pay telephone and petrol expenses if partly personal or partly office use perquisite valuation in computation of salary income of the director
better apply net banking facility in the companys account for paying the taxes to goverment which every bank will provide

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now