Outstanding Directors salary and Paid-up capital

My friend they can do it.

First convert the Outstanding Salary amount to Directors as Loan from the Directors.

Allot the shares to the Directors aginst the Loan Outstanding to the Directors.

take care the compliance of TDS Provisions on Salary.

Hope it may help ! !

Originally posted by : CS MD Osman Akthar
	My friend they can do it. First convert the Outstanding Salary amount to Directors as Loan from the Directors. Allot the shares to the Directors aginst the Loan Outstanding to the Directors. take care the compliance of TDS Provisions on Salary. Hope it may help ! !

Thank you for your reply,

To convert the O/s salary of Director and allot shares to them, what procedures need to be followed. A resolution need to filed in a General Meeting of the share holders???

Advise

Procedure,,

1. Compute the O/Salary and comply the TDS prov

2. Hold a Board Meeting convert the O/S as loan from Directors.

3. By taking consent from the Directors and a Board Resolution for the same allot the shares.

hope it works,,