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Regarding income tax
If any company employee take money from company as imprest for doing a daily basis expenses for branch than what is consequences for employee ?
Replies (1)
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.
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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