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....
Menu
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.
Recent Topic
- Challan status in Payment Failed but amount deduct
- Sec 54 exemption
- Query regarding retirement benefits
- TDS Payment and filing
- Capital gains exemption under sec 54
- Revamped traces portal, conso file download failed
- Due date of ITR for Option Trader
- Cancelled invoice entry
- Debt Mutual Fund Tax in New Regime
- Amount distributed by a Co-op. Hsg Society to its
Related Topics
CAclubindia
