can a director of a private limited company, withdraw amount from company as advance against salary for the year?
Any compliance for this in ROC and income tax?
Menu
Advance against salary
Replies (2)
Quick Summary
I think it is not allowed under section 185. Please see the below
https://www.mca.gov.in/SearchableActs/Section185.htm
A Director Cannot take advance salary since it's a form of loan under section 185
however you can show it as excess remuneration to director that shall be refundable to company within 2 years
however you can show it as excess remuneration to director that shall be refundable to company within 2 years
Recent Topics :
- GST SALES RETURN MISSING 2025-26 FY
- Enquiry on FAST-DS system generated email
- Capital gain on sale of agriculture land
- Demand from TRACES
- FY 2025-26 ITC CLAIM DUE DATE
- 96084000 and 48202000 HSN code ka Tax Rate kya hai
- Clarifications for intra day transactions
- CA FINAL FR FINANCIAL INSTRUMENTS (Ind AS 109) Dou
- 70:30 GST rule for solar EPC: partial scope (struc
- TDS on Redevelopers hardship allowance received no
Related Topics :
CAclubindia
