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.
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.
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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