If the expenditure billed in the name of the directors the company can claim it as a expenses ?
Menu
Expenses of the director
Replies (2)
As per my Understanding, Company can claim such expenses only if it is approved by the Articles or Resolution. Not In any other Cases.
Personal nature expenditures are not allowable under income tax act. However, if the facts of the case proves that it is has nexus with the business of company or commercial expediency then it can be allowed. I can give more clarity if you can elaborate what kind of expenditure it is.
Recent Topic
- Input tax credit under igst under insurance compan
- ITR Form to be used
- CGAS account Holder Deceased
- ITR form suggestion
- Post office KVP income.
- Free GST invoice tool I built for my practice R
- Clarification on Gratuity Exemption under Section
- GOODS AND SERVICE TAX - GSTR 1
- Correct ITR form
- Clarification required on Section 393 & Report
Related Topics
CAclubindia
