banner_ad

Reimbursement

This query is : Resolved 
Profile Image

Profile Image

(Querist)
29 July 2010 If an employee of company paying bills & other expenditures of a company thrugh his own credit card & taking the reimbursement of same from the company,Is there any problem under I.T act & Co. Act??????
Profile Image

CA. Pradeep Nayak

Profile Image

CA. Pradeep Nayak (Expert)
29 July 2010 There may not be any problem. However, if the AO raises any query on the nature of such credits, the employee must be able to establish the fact that the amount is in the nature of reimbursement & not income. It would be advisable to maintain copies of such bills incurred on behalf of the company on which reimbursement was claimed.

Today most of the banks offer Employee Reimbursement Account (ERA) which is attached to the employees salary account and used by companies to credit reimbursement to the employees. It would be advisable to route all such reimbursements through ERA.
Profile Image

CA.ViVeK M ACA

Profile Image

CA.ViVeK M ACA (Expert)
30 July 2010 NO issues at all...you must able to prove whatever you had received is just Re imbursement of money and not your income
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
14 May 2026
ICSI Trainees for 21 Months and Semi-Qualified CS

CMNITY HIRE

New Delhi

Others

View Details
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details
Company
07 May 2026
CA Assistant

amit desai and co

Mumbai

CA Final

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
29 May 2026
Finance Head

Bhawar Sales Corporation

Chennai

Graduate (Any)

View Details
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details
Company
ARTICLESHIP 15 May 2026
Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details