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This query is : Resolved
23 October 2010
Hello Experts
I am sanjay speaking. I am an accountant in pvt ltd co. My point is that: The director of the Co has paid a credit Card payment of his own from Co's Account. The expenses done by him for the purpose of Co's Entertainment. Kindly advise whether the co can make payment or not. If yes, then what will be treated.
it is urgent.
thanks & regards
sanjay
I am sanjay speaking. I am an accountant in pvt ltd co. My point is that: The director of the Co has paid a credit Card payment of his own from Co's Account. The expenses done by him for the purpose of Co's Entertainment. Kindly advise whether the co can make payment or not. If yes, then what will be treated.
it is urgent.
thanks & regards
sanjay
23 October 2010
YES, DIRECTOR CAN MAKE THE PAYMENT ON THE BEHALF OF COMPANY FORM HIS OWN ACCOUNT OR CREDIT CARD
23 October 2010
Agreed no restrictions under income tax
24 October 2010
agreed with navin
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