Dr balance in director account in pvt. ltd.

This query is : Resolved 

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
09 April 2012 Dear sir,

XYZ Pvt. LTd.

has account of one of his director MR. X as follows:

Unsecured Loans
Mr. X : DR. 6,10,000/-

what will be effect of this.

can the company do so ?

09 April 2012 If the company had accumulated profits Rs.6.10 lakhs or the accumulated profit whichever is less will be treated as deemed dividend in the hands of the Director subject to the conditions of section 2 (22) (e ) of the Income tax Act,1961.

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
09 April 2012 If the company has loss of Rs. 8.57 than ?

09 April 2012 If accumulated loss is 8.57 lacs then as experts said lesser of both means nil will be deemed divident.


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries



CCI Pro

Follow us
add to google news


Answer Query



Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
22 June 2026
Accountant

Global Image Technologies Private Limited

New Delhi

MBA

View Details
Company
25 June 2026
AUDIT MANAGER

JDAS & ASSOCIATES

New Delhi

CA

View Details
Company
24 June 2026
Chartered Accountant - GST & Direct Tax

APL

Mumbai

CA

View Details
Company
ARTICLESHIP 24 June 2026
CA Article Trainee

Rahul Dang & Associates

Pune

CA Inter

View Details
Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details