Question

A credit card issued bank on name of company director' name .  Credit card 100% used for business payments.

Question:

Who Claim the expenses of credit card , Company or its director.

if company claims how we justify 236y tax deducted on the name of director.

please share your reviews about this with some supportive sections

Answer 1

If a credit card is issued in the director’s name but used 100% for company expenses, then the company can claim those expenses, provided proper supporting documents (invoices, receipts, payment proofs) are maintained.

Where Company claims tax of 236y it must not be cliamed by director, and director shall give an affidavit of not claiming the same in tax return.