Dr balance in director account in pvt. ltd.
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 April 2012
Dear sir,
XYZ Pvt. LTd.
has account of one of his director MR. X as follows:
Unsecured Loans
Mr. X : DR. 6,10,000/-
what will be effect of this.
can the company do so ?
XYZ Pvt. LTd.
has account of one of his director MR. X as follows:
Unsecured Loans
Mr. X : DR. 6,10,000/-
what will be effect of this.
can the company do so ?
09 April 2012
If the company had accumulated profits Rs.6.10 lakhs or the accumulated profit whichever is less will be treated as deemed dividend in the hands of the Director subject to the conditions of section 2 (22) (e ) of the Income tax Act,1961.
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Querist : Anonymous
Querist :
Anonymous
(Querist)
09 April 2012
If the company has loss of Rs. 8.57 than ?
09 April 2012
If accumulated loss is 8.57 lacs then as experts said lesser of both means nil will be deemed divident.
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