Please advise

I am an owner and director of a Private Limited Company.

Can I not use my personal funds in small amount sometimes for the goodness of my business or for its growth (like renewing hosting space and domain name etc.)?

Is it prohibited in accounting law and income tax law?
Replies (5)
Quick Summary
This discussion addresses whether a director of a Private Limited Company can use personal funds for business expenses, such as renewing hosting and domain names. The consensus is that while personal funds can be used, they should be formally treated as a loan from the director to the company. This requires a declaration to confirm the funds are personal and not borrowed. The thread also touches on basic accounting entries for employee salaries.

The company is in effect a separate “person or entity”. It is not you or yours to do what you like with. What the company can do is governed in its Articles and Memorandum of the company.
I am accountant in a proprietor firm what Will be entry of salary given to employee??
U can use ur personal funds for business growth and same should be treated as loan from directors in the company.
Hi bhaskar

make sure u give declaration that the money you are providing is your own fund and not borrowed amount

thanks
Mohit
8335093446
Thank you so much for all of your replies. It means a lot to me. Thanks a lot.

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