Business payments by personal credit card

[hp_ca]

Hello,

Can I make business payments via personal credit card ? Is there something which I need to know ? How to show it in books of accounts?

 

[helloworld]

Can I make business payments via personal credit card ?

You can't. You should get business credit cards instead.

Is there something which I need to know ?

Your account might get blocked and/or migh request you proof of purchase (if they observe high spend pattern).

 

[big_bull]

Hello,

Can I make business payments via personal credit card ? Is there something which I need to know ? How to show it in books of accounts?

I do the same without any issues, in fact many business owners do.
Monthly business expenses from personal card account can be combined and the business entity can reimburse once in a month so that it can be categorized as business expense.

 

[Harish Agarwal]

I do the same without any issues, in fact many business owners do.
Monthly business expenses from personal card account can be combined and the business entity can reimburse once in a month so that it can be categorized as business expense.

Till what amount per anum is it permissible. I heard a relative of mine did 24 lakh expenses and had to pay income tax as per 24 lakh income.