cash withdrawal
This query is : Resolved
08 August 2008
Can i withdraw cash from a director cum shareholder a/c.for his individual a/c.(for Bank SB A/c.Cash Depsoit)
as like in partnership firm partners a/c.?
or
I have to issue a cheque for that.
experts answer immediate need.
as like in partnership firm partners a/c.?
or
I have to issue a cheque for that.
experts answer immediate need.
09 August 2008
u r not clear to me. wht exactly u want to ask
09 August 2008
The director can not withdraw cash from the company's bank account for his personal requirement or cash deposit in personal savings bank account like withdrawls made by a partner from the firm. Basically, partner can withdraw from the bank account of the firm on account of his capital account with the firm but the same is not true with the company as the director may be a shareholder but the capital belongs to the company only.
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