Directors personal Expenses paid bi co.
This query is : Resolved
09 October 2009
How to treat directors personnal expenses paid by co. like cerdit card payments, residence electricity payments etc.
09 October 2009
the said personal expenses are disallowed in the hands of the company while calculating the incometax
Ankur Garg
(Expert)
09 October 2009
Hi,
Kindly appreciate payment of director's personal expenses by the company is a very serious issue from the company law point of view.
It may be treated as loan to director under section 295 or may be treated as remuneration to director.
Please take care.
Regards
Kindly appreciate payment of director's personal expenses by the company is a very serious issue from the company law point of view.
It may be treated as loan to director under section 295 or may be treated as remuneration to director.
Please take care.
Regards
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