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
- STCG....................................................
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- TAN for Partnership
- Treatment of Pension ?annuity returns on PMVY
- Sales return eway bill
- Specified Profession
- GST ON DAMAGED GOODS
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
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
