27 September 2013
Sir, i am in accounts departmment i want to know if one is not receiving payments but have to pay off to the creditors.so can we withdraw cash from capital?if yes, so by what limit?if no, so what to do in that case?
06 October 2013
Your question is not clear. On one side you want to clear the creditor then why cash is required to be withdrawn why cheque is not issued. If cheques were bounced then issue DD. Secondly you have not stated whether it is a partnership firm or a company. If partnership firm then issue a cheque to the partners and let the partners withdraw cash no problem but if it is company then the capital is that of the company and no cash can be withdrawn against capital.
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