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salary to shaeholder

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Querist : Anonymous

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Querist : Anonymous (Querist)
09 May 2011 Dear Experts,

Can a limited company(unlisted) pay salary to its shareholder?

Thnx in advance.
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prasad

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prasad (Expert)
10 May 2011 Yes, The company can pay salary to its share holder, Such payment shall be diclosed in the annual report U/s 301 and shall be disclosed in the tax audit report.
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