Banking

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

08 January 2016 HELLO WE HAVE INCORPORATED A COMPANY AND AND HOW TO DISTRIBUTE PROFIT FROM CURRENT ACCOUNT I MEAN HOW TO WITH DRAW MONEY FROM CURRENT ACCOUNT.

CA. Divyansh Agarwal

CA. Divyansh Agarwal (Expert)
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08 January 2016 Company is a separate legal entity from all members no profit can be withdraw from current account however director can be given remuneration as per companies act 2013

Querist : Anonymous

Querist : Anonymous (Querist)

09 January 2016 exactly my point is that no profit can be withdrawn and there is non executive director so certain limit is there to give remuneration but the amount of profit will stay in current account there must be some some way please guide me on that as there is two director but 5 five ppl r there inclusivly who is inscreasing company sell and they are asking for the shairing out of profit so how to withdraw such amount to distribute. kindly reply

CA. Divyansh Agarwal

CA. Divyansh Agarwal (Expert)
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09 January 2016 you can give commission on the basis certain % of profit and accordingly claim it in PL A/c.

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