banner_ad

Company bills paid by director credit card

Others 2476 views 1 replies
Tel bills / electricity bills / railway tickets / - these company expenses if paid by the director by his credit card & after 30/40-days on credit card payment due date company makes payment of these to director bank a/c so that he can pay his cr card bill from his bank a/c - IS THIS TXN WRONG ( OR can ito treat them as personal exp & disallow them)
Replies (1)

This practice must be stopped at once. The AO will treat the receipt of reimbursement from the compay into the personal account of the director as his own income and will be taxed. Also not use director's personal credit card to pay bills of the company. Very wrong. The director will get an IT notice.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details