re-imbursement of expenses
This query is : Resolved
26 December 2009
If the company is paying fixed amount as re-imbursement of expenses such as car & fuel, entertainment.. then what is tax implication ?
26 December 2009
On the one hand it is said to be a Reimbursement. Reimbursement is always on production of bills. Also, the amount of such reimbursement is fixed. It can be perceived as Reimbursement of expenses subject to a maximum ceiling. Further, in case the amount spent is for official purposes then it is free from tax otherwise it may be treated as a perks in the hands of the receipient.
26 December 2009
Yes, If it is offical purpose it is not taxable,if it personal or partly personal & partly offical the perks valuation rules applicable
27 December 2009
yes,agree with experts
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
- About TDS & Income Tax
- PPF interest-As Exempt Income disclosure
- Under construction property in ITR
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- Scrutiny and reopening of past returns
- Building tax payment deduction in rental Income
- Upload Level ValidationITR3Category of Defect B/D
- Not able to file ITR
- Foreign inward in ITR
- Accounting with Claude
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
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
