Imprest for foreign travel : Whether a deemed dividend ?
This query is : Resolved
12 February 2009
Sir,
We are a Pvt ltd co.
Our directors (having a share capital of more than 10 %) often go to foreign travel for official purpose.
Our company provides them foreign currency as imprest especially for that trip & after return they give the account & we book the foreign travel expenses.
Whether such imprest will be considered as deemed devidend? &
Whether any dividend tax is also to be payable on that ?
Kindly reply soon.
Thanks
Subhash
We are a Pvt ltd co.
Our directors (having a share capital of more than 10 %) often go to foreign travel for official purpose.
Our company provides them foreign currency as imprest especially for that trip & after return they give the account & we book the foreign travel expenses.
Whether such imprest will be considered as deemed devidend? &
Whether any dividend tax is also to be payable on that ?
Kindly reply soon.
Thanks
Subhash
12 February 2009
No.
It will not be treated as deemed dividend.
It will not be treated as deemed dividend.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Deemed Capital Gain
- CLOSING STOCK QUERY
- Exiting partner in partnership firm in gst portal
- Type of Capital Gain
- Grand in aid
- IT returns for fresh job holders
- F&O reporting in ITR
- Difff in ais receipts and gst turnover
- Applicability of Books of Account for Commission Income (Sections 194D & 194H)
- Gst on travel by air for business purposes
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
- TDS on property - Form 141 query
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
