Payment of credit card of director
This query is : Resolved
28 January 2015
one of the director is paid his own credit card payment through the company bank account.?
what are the consequences for the above according to IT Act and Company Law 2013?
what are the consequences for the above according to IT Act and Company Law 2013?
28 January 2015
If he has spent the amount for company expenses(flight and hotel bookings for company travel) being reimbursement it can be paid.
02 February 2015
Seetharamn ji please give me the answer of above query ?
02 February 2015
Seetharamn ji please give me the answer of above query ?
02 February 2015
If not for company expenses recover it from the remuneration payable. As per companies Act 2013, except remuneration, no such payments can be made to Director. Such payments will not be allowed as expenses of the company for income tax computation.
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