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Withdrawl of funds by director
a pvt ltd having family members as directors,they have retained profit in the company every year in reserve and surplus account, can they withdraw the amount from reserves or whether they can withdraw any amount as a loan from the company ?
Replies (4)
Quick Summary
They can withdraw profits in their profit sharing ratios or take it as a loan
As a loan can be withdrawn
Directors can take performance bonus from Profit earned during the year but have to pay tax on it.
BESIDES MENTIONED ABOVE BY MY FRIENDS, THE COMPANY CAN ISSUE DIVIDEND SO THAT DIRECTORS & SHAREHOLDERS GET BACK SOME RETURNS
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