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are 269SS,269T,269ST applicable only to business transactions?and what about sec 40a(3)?
Replies (5)
Quick Summary
1. Section 269SS, 269T, 269ST applicable to all transactions i.e business as well as non business
2. Section 40A(3) applicable only for business transaction.
2. Section 40A(3) applicable only for business transaction.
Thank u very much sir
Most welcome......
If any company employee take money from company as imprest for doing a daily basis expenses for branch than what is consequences for employee ?
@ Mr. Davender Kumar
There is no tax implications in hands of Employee, because it's not a income of Employee.
You have taken Money advance as imprest and that using it for Company business purposes, if there is any balance in your hand than also it's considered as balance with Company only, not you.
There is no tax implications in hands of Employee, because it's not a income of Employee.
You have taken Money advance as imprest and that using it for Company business purposes, if there is any balance in your hand than also it's considered as balance with Company only, not you.
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