If the director of the company swipes his personal card for office expenditure of Boarding & Lodging, Travelling to a third party in a foreign country and is reimbursed for the same in India, will TDS be applicable on payments made to the third party in foreign country through credit card??
Hi,
This is a highly debatable issue. some rulings are in favour of deducting tax, some are against.
Main point which holds it right that no TDS be deducted is that, there is no generation of income.
Mahindra & Mahindra case reported in Mumbai ITAT also states that no TDS be deducted.
For any further query or clarification PM or mail me.
AJH & CO.
anubhavjain @ ajhco.in
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
View Details
CAclubindia
