Excess bank balance in company
This query is : Resolved
19 February 2020
Dear Sir,
I am having a Private Limited company in which I am having a bank balance of Rs 9 lacs. I have already given Director remuneration to all directors.
How can I use this money for my personal use. What are the options available with me as I don't want to keep so much of bank balance in my company books.
Regards,
Divyesh Jain
I am having a Private Limited company in which I am having a bank balance of Rs 9 lacs. I have already given Director remuneration to all directors.
How can I use this money for my personal use. What are the options available with me as I don't want to keep so much of bank balance in my company books.
Regards,
Divyesh Jain
20 February 2020
You can pay advance salary if you wish
20 February 2020
Can I show 9 lacs as Advance Salary this financial year itself ? i.e. F.Y. 2019-20. In my personal books of accounts the turnover is coming to Rs. 17 lacs and after getting this salary of 9 lacs, will GST not become applicable to me. I am not yet registered in GST in my individual capacity.
20 February 2020
so much so, advance salary will be taxed this year itself under income tax also
20 February 2020
Ok, Thank you Sir
20 February 2020
you are most welcome.
..
..
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
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- GST on export of services and Input Credit
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- PAYMENT NOT SEND IN 180 DAYS
- Long term Capital gains received on sale of Residential Plot of land 10 years after buying it
- RCM INVOICING FROM NOV-2024
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
Trending Online Classes
CAclubindia
