03 October 2008
The facts of the case are as under
1) X is a pvt ltd company
2) its director mr. Z is majortiy shareholder/ beneficial shareholder.
3) The above director is in urgent money say about 20 lacs for personal obligations
4) what is the best option availble to him. How can he withdraw or take loan without contravening companies act provsion & without attacting Tax liability in his income.
CAclubindia
