Pls confirm whether Private Limited Company can issue Rental Security deposit to Directors.
Building premises in the name of Directors and already directors getting rent from Company....
Getting rent is very smaller portion hence now directors decided to ask Security deposit from Company...
Can Company issue Security deposit to Directors (Director only land lord of the Company).
please confirm....
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Private Company can issue Rental Security deposits
Replies (1)
A Private Limited Company can accept a rental security deposit from its directors. It is not considered a "deposit" under the Companies Act, 2013, provided the director submits a written declaration that the funds are not borrowed and the transaction is documented as a legitimate business/property arrangement. It should be disclosed in Form DPT-3.
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