WITHDRAWAL OF PROFIT BY PVT LTD.

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Querist : Anonymous

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Querist : Anonymous (Querist)
06 July 2011 GPL a pvt ltd. and mr. GJ is individual both are partner in a GGP partnership firm. gpl has invested in GGP RS. 50 LACS AS CAPITAL and GJ has invested 30 lacs. now firm GGP has earned profit after tax Rs. 20 lacs during the year 2010-11, profit is distributed in 60% to GPL and 40% to GJ,


question is

60% rs. 12 lacs is tax free income in the hands of GPL, and this 12 lacs are at the discreation of the board of directors how to use it in the pvt ltd. or any other restriction is there.?
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Querist : Anonymous

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Querist : Anonymous (Querist)
12 July 2011


hi there is no reply from experts
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
21 July 2023 "Sorry, I am not a featured member."

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