HDFC/ICICI Business Debit card (current ac) expenses lodged in Company Pan or Personal Pan?

[Raulnoob]

Hi Folks, My HDFC current a/c RM 👨‍💼 is telling me if I make any Purchases using HDFC Business debit card 💳 (current a/c), the expenses will be lodged in my Personal Pan instead of my Company Pan, whereas my ICICI RM is saying it will reflect only in my company Pan. I am confused, What is the truth? Cause i am using the Debit card to pay for the Credit Card dues and i dont want to trigger any flags with the Tax boss man. Thanks in advance to the experts 🙏

 

[D₹V]

Should reflect in company pan technically but not sure.
@SSV

 

[SSV]

Hi Folks, My HDFC current a/c RM 👨‍💼 is telling me if I make any Purchases using HDFC Business debit card 💳 (current a/c), the expenses will be lodged in my Personal Pan instead of my Company Pan, whereas my ICICI RM is saying it will reflect only in my company Pan. I am confused, What is the truth? Cause i am using the Debit card to pay for the Credit Card dues and i dont want to trigger any flags with the Tax boss man. Thanks in advance to the experts 🙏

What type of your business entity you are running?
Proprietorship/ partner/ pvt ltd?

 

[Raulnoob]

What type of your business entity you are running?
Proprietorship/ partner/ pvt ltd?

It’s a Pvt Ltd company

 

[SSV]

It’s a Pvt Ltd company

If it is a PVT ltd company , the Business DC expenses of PVT ltd company's current account will definitely be psoted against company's PAN only.. PVT Lt is a well structered seperate business legal entity... nothing to do with personal PAN of its directors..

You must have given company' PAN for the current account anyway..
the operating offcial of the current account may be its magagin director or whoever the company authorises. but all the transactions are realted to the Comapny and its PAN..

All the best