if we have a company (pvt ltd) and make profit of 1 crore and give salary to 2 directors (5 lakh each). so my questions are: - what happens with funds of 1 crore in bank account? - if needed can that 1 crore be used by any director personal purpose? with permission of course. - are there any strict limitations related to usage of company funds?
19 April 2021
dear puja & raj, thanks for reply. So what you are suggesting is to increase Salaries for both directors. But then they'll have to pay taxes on that.
CAclubindia
