Director making payment on behalf of Company by Personal Credit Card

This query is : Resolved

Prithvi Rao (Querist)
Follow

26 October 2023 Sir, I am a Director of a Private Limited Company. Recently we purchased few Compnay required items from Alibaba.com. We used the Imp /Ex Code of the Company. I used my personal Credit Card to make a pmt of about US$ 3250. To complete the transaction with my Bank I have provided all the required details like Invoice, Payment , Delivery, etc to the Bank. They are not closing the transaction stating that Director Cannot make payment on behalf of the Company. Please advise.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

27 October 2023 Director can make payment on behalf of the company.
Show the link.
https://www.taxmanagementindia.com/web/tmi_highlights_details.asp?id=22971&kw=Rent%2Dpaid%2Dby%2Ddirector%2Dof%2Dthe%2Dcompany%2Din%2Dher%2Dindividual%2Dcapacity%2Ddirectors%2Dserve%2Das%2Dagents%2Dany%2Dtransaction%2Dcarried%2Dout%2Dby%2Dthe%2Ddirectors%2Don%2Dbehalf%2Dof%2Dthe%2Dcompany%2Dis%2Da%2Dvalid%2Dtransaction%2DTri

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