16 January 2019
Dear Sir, Our PVT LTD company salary Rs.50000.00 has been paid from Director Proprietor CASH A/c Confusion regarding Voucher entry in PVT LTD. Books Journal Entry or Receipt / Payment should by passed for Salary in PVT. LTD.
16 January 2019
Payment from director persoanl Bank Account would be treated as Loan received from Director or Repayment of Loan Taken by director from company if any loan is taken by director from company
you have to pass journal entry as Salary A/c .Dr To Loan From Director Account
Querist :
Anonymous
Querist :
Anonymous
(Querist)
16 January 2019
Hi Sir, Can we pass Receipt / Payment vouchers.Is their any rule in company act.
1) Loan from Director Cr 50,000.00 Cash Dr 50,000.00 2)Salary Dr 50000.00 Cash Cr 50000.00
16 January 2019
You cannot take Loan in cash Above Rs:-20,000/- as per Income Tax Act(Sec 269SS). hence Cash Receipt & Payment Entry is not Suggested
Querist :
Anonymous
Querist :
Anonymous
(Querist)
16 January 2019
Dear Sir, Lots of thanking for your reply. Please suggest me entry in Director Personal accounts.Self has been drawn from Bank. Are below entry are correct in Director Pelsonal Account. Bank Cr 50000.00 Cash Dr 50000.00