19 September 2013
salary of a direcor in a comapny is rs 10 lacs p.a.
director do not want to receive salary, as he don't require money now..
now how to present it in financial statements ? 1) unsecured loan from director(but section 269ss of I.T Act, 1961 dont allow book entries) or 2) Creditors ???
CAclubindia
