Advance salary to a full time director in pvt ltd

This query is : Resolved

Divya Garg (Querist)
Follow

31 May 2014 Are we allowed to give 3 months advance salary to full time director of a PVT lTD company ?

Is there any restrictions on that ?

Ankur Garg

Ankur Garg (Expert)
Follow

01 June 2014 You have to take care of section 185 of companies act, 2013 related to loan to director as the same is also applicable to private company.

Also check your AOA in this regard.

Thanks

Divya Garg

Divya Garg (Querist)
Follow

03 June 2014 But this is actually a salary advance as we do in case of normal employees and not a loan ?

AOA doesn't prohibit anything for this.

So, will this be acceptable ?

Ankur Garg

Ankur Garg (Expert)
Follow

03 June 2014 Now as per the provisions of section 186 even loan to employee is covered under section 186.

Please go through section 186 of companies act, 2013 carefully.

Thanks

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Aayushi Chauhan

prakash takane

venkateswara reddy

Thanwar Chhatwani

R Prabhudoss

Subscribe Now

Advance salary to a full time director in pvt ltd

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Article Assistant

CA Final

Accountant

GST CONSULTANT

GST CONSULTANCY