Director loan
This query is : Resolved
Gaurav Sharma
(Querist)
08 June 2014
i want to know how can manage of director loan, his personal expenses, etc. in our books. should i create a separate company in tally or show in director's loan accounts.
Sandeep Dharar
(Expert)
09 June 2014
No need to create separate books. The payment received by the director from the company is the Expense for the Company. So
U must Create separate ledgers in the Books of the Company as under:-
Director's Remuneration - Indirect Expenses(deduct TDS u/s 194J if applicable).
Loan to Director - Current Assets Loans n Advances
Loan From Director - Current Liability Loans n advances.
U must Create separate ledgers in the Books of the Company as under:-
Director's Remuneration - Indirect Expenses(deduct TDS u/s 194J if applicable).
Loan to Director - Current Assets Loans n Advances
Loan From Director - Current Liability Loans n advances.
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