Use of money of pvt ltd company

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

31 July 2013 dear expert sir/madam,
Me and my friend started a consultancy firm as a pvt. ltd company.only two of us are the director of company for 50:50%. i want to ask when we earn money than after paying tax and all the expenses like ( payments of directors, payment of employees, rent, other expenses). can we both director the remaining money for self as we want if yes than how ? because we both want to buy home and our all money is coming to our company account.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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12 August 2013 If you wish to withdraw funds from the company for your personal use then declare dividend and pay the same to the shareholders.

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