Debit Balance in Directors Account,

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RANGANATH.T (Querist)
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30 September 2008 Dear Sir/Madam,

With reference to the above subject, Pls let me know whether we can show debit balance in directors account or not ?
pls give a section code or number for get the more details regarding this matter.

kindly oblige and do the needful.

Thanking You.

Yours faithfully,
Ranganath.T

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)
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30 September 2008 Debtors account will show normally debit balance only!

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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30 September 2008 Pl refer section 2(22)(e) 0f the income tax act,1961.

CA V. Mohanakrishnan

CA V. Mohanakrishnan (Expert)
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01 October 2008 Als information to be provided as part of disclosure the amount due as at balance sheet date and the maximum amount due during the period as a good corporate governance practice

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