Menu
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As a loan can be withdrawn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
Recent Topics :
- Report in GSTR 1 ( Credit Note ) for Wrong GST Rat
- Reply of summons issued under section 70 of the cg
- How to Bulk GSTIN Number Verify and Validation
- OPC Annual Filing Defaults – Need Guidance t
- OPC Annual Filing Defaults – Need Guidance t
- FCGPR of a past period
- Discuss and Download CA Final Question Paper Nov 2
- Does Parag gupta's booster batch good for CA Inter
- Police Bandobost and GST Invoice
- Understanding where manual effort goes in audit wo
Related Topics :
CAclubindia
