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(Querist)
24 August 2011 Hi

Suppose a director of a company is receiving Rent from the company and the company does not pay it and passes an entry as RENT A/C DR
TO LOANS FROM DIRECTORS CR

IS that ok ? shoul i treat it under 269ss as loans ? when amount paid what to do?
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Ravikant

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Ravikant (Expert)
24 August 2011 Pass a Board Resolution to allow such adjustment as Loan,
Treat it as Loan u/s 269SS

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