Cash withdrawal by director
This query is : Resolved
12 May 2015
Dear sir,
if there is any limit for withdrawal by director in a company.In the initial stage director introduce around 70 lakhs for formation and running for the the business.Now he wish to withdraw rs 10 lakhs from capital .if any problem if company withdraw Rs 10 lakh and pass capital drawing in director a/c.
if there is any limit for withdrawal by director in a company.In the initial stage director introduce around 70 lakhs for formation and running for the the business.Now he wish to withdraw rs 10 lakhs from capital .if any problem if company withdraw Rs 10 lakh and pass capital drawing in director a/c.
12 May 2015
For any capital withdrawal in company it will be treated as buy back of shares and in said case two buy back should have minimum 1 year of gap. and it has to be based on reserved in the company.
There are detailed rule prescribed for the same.
There are detailed rule prescribed for the same.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- PPF interest-As Exempt Income disclosure
- Section 194JA & JB Income which ITR Form to use
- Scrutiny and reopening of past returns
- Pass word to open justification report for Q1 for FY 2026-27
- F & O PROFIT REPORTING FOR AY 2026-27
- Booth for sales promotion
- Type of Capital Gain
- Rental income of jointly held property
- FEMA regulation Act. for inward remitance
- TDS on Rent received on redevelopment of building
- Tax on Deemed Capital Gain
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
