Dear Experts,
My wife is a director of a company (I am not) but we maintains joint saving account.
Query #1. If I take a personal (unsecured) loan from one of my relatives abroad into a joint account that I operate with my wife, can I give the same as personal loan to my wife from same account, if yes then what I need to take care of from accounting perspective.
Query#2. Can I provide a personal loan from my personal funds (from another jointly operated account) directly to my wife's company's account or should she maintain a separate saving account and then I should transfer the same to saving account and she transfers the same to company account
Appreciate if the query can be resolved at the earliest.
Best regards,
CAclubindia
