In our Pvt Ltd Co, two of the directors's travelling expnses was borned by the Company. But now it is decided that this expenes will be treated as their personal expenses. This expenses are outstanding as on 31st march. what are the implications of this transactions under under Companeis Act? Are this expenses should be treated as Loan to Directors under the Companies act?
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Outstanding personal expenses of directors
Replies (1)
Why dont you implement the system from the date of decision?
If you dont want, this will be treated as Advance and not loan to Directors
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