17 July 2014
one Company and Proprietorship Firm director and proprietor are same person he want to withdrew money from company please suggest me how is made for transaction
17 July 2014
This will be treated as Loan to Director which is prohibited under section 185 of Companies Act, 2013. This section is applicable on both public and private companies.
Please take note of the same. So avoid this transaction.
CAclubindia
