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Debit Balance in Directors Account,

This query is : Resolved 
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(Querist)
30 September 2008 Dear Sir/Madam,

With reference to the above subject, Pls let me know whether we can show debit balance in directors account or not ?
pls give a section code or number for get the more details regarding this matter.

kindly oblige and do the needful.

Thanking You.

Yours faithfully,
Ranganath.T
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
30 September 2008 Debtors account will show normally debit balance only!
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
30 September 2008 Pl refer section 2(22)(e) 0f the income tax act,1961.
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CA V. Mohanakrishnan

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CA V. Mohanakrishnan (Expert)
01 October 2008 Als information to be provided as part of disclosure the amount due as at balance sheet date and the maximum amount due during the period as a good corporate governance practice
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