Director s loan repayment

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

10 September 2013 Hi,

Is it possible to treat in books of account the director's personal expenditure as repayment of directors loan.

Thanks in advance.

Ajay Mishra

Ajay Mishra (Expert)
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10 September 2013 Hi

Check that you have any policy for payment of loan on behalf of director. Check it is part of remuneration of director.

Querist : Anonymous

Querist : Anonymous (Querist)

11 September 2013 Hi,

My company balance sheet shows director loan of rs.40 lakhs.during the year the director has taken a sum a rs.12 lakhs towards their son marriage purpose.(all through cheque).The payment made for an advance for hall booking.

How should I account for this 12 lakhs. Whether loan repayment to director or salary (No TDS deducted for the same)

Please clarify me.

Ajay Mishra

Ajay Mishra (Expert)
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11 September 2013 It is confusing....

Querist : Anonymous

Querist : Anonymous (Querist)

12 September 2013 hi,

please clarify ?

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