Drawing by the owner of Company
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 November 2010
Can owner of Public Ltd co withdraw the amount from business for personal use? If yes, What is the treatment of drawing made by the owner of the Public Limited Co, in the books of account?
25 November 2010
The owners of Public Limited Company are per se their equity shareholders itself. Say for Example the owners of Reliance Industries Limited are the equity shareholders & their directors are only acting in fiduciary capacity. The equity shareholders are not entitled to withdraw their money for personal use. Hence there is no treatment of drawning made by the owner of public limited company in books of accounts.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- Capital gain consideration
- TDS deduction (debit notes)
- Can a partnership firm become partner in a LLP ?
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- TDS on purchase of value vouchers for employees ?
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
