Basudev Munda 29 November 2016

Tax implication on imprest money

Sir, I work in a private company, my company provides imprest money of around 3-4 lakhs per year for the daily office and program expenses. The money being deposited in my personal current account. I submits bills/ vouchers against the money and get reimbursed monthly. My query is whether there will be any tax implications on me for the imprest money that comes into my account. Kindly suggest, regards Basu

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Kumar Doab (FIN) 29 November 2016

Such reimbursments against actuass may not be taxable at your hands.

Kumar Doab (FIN) 29 November 2016

You have posted that:

"The money being deposited in my personal current account.

How can the said account is current a/c?

Is it personal saving a/c or salary a/c inroduced by employer?

Get written declaration from employer of all such transfers and acknowledged copy of all bills and covering statement and settlement of a/c of each year.