Can a company pass a resolution to allow personal travel expense of director? If yes then under which section?
Can a company pass a resolution to allow personal travel expense of director? If yes then under which section?
As per Sec.211(2) every P&L a/c shall give a true and fair view of the profit/loss of the company. Company is a separate legal entity and hence personal expenses of directors should not be debited to company's P&L statement.
Vardhaman Group of India
Pimpri Chinchwad
CA Inter
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Rahul Dang & Associates-Chartered Accountants
Pune
CA Inter
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SMJ global advisors pvt ltd
New Delhi
B.Com
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CAclubindia
