03 March 2010
Is it possible for Directors of a pvt. ltd. co.to bring in cash less than, greater than or = Rs.20000/- and also take back the cash in any volume by cash itself (like partnership current a/c.) and if it is possbile then can interest be given on the loan amt. by cash iteself ?
03 March 2010
You have to take daily balance you cannot bring cash if the balance on the day on which he is brining is rs.20000/-. If you have operated on a daily balance less than 20000 then you can pay interest also.
If the interest amount is less than 5000 you can pay cash.
CAclubindia
