Dear All,
Please advise me on following :
If company reimburse the expenditure incurred by employee on behalf of company in his personal SB account then it will liable him to pay any type of tax ?
How he has to maintain all the entries in his books ?
Regards,
Vaibhav
if expenes are reimburse on the basis on actul bills then there is no tax liability
in such case when the employee submit accounts of such amounts to company, he has to preserve the statement of expenses stamped by company, coz in any case of investigation, without records the amount would be treated as concealed income,
Shaswat initial support private limited
Ahmedabad
CS
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Shyam Joshi & Associates
Pune
B.Com
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CAclubindia
