Can shareholder withdraw profits in private ltd ???

Krishna seva das (TAX CONSULTANT) (1070 Points)

29 July 2014  

EXAMPLE: PRIVATE LIMITED COMPANY MADE A PROFIT OF 50 LAC AFTER TAX

AND

HAVE 2 SHARE HOLDERS WITH HOLDING OF 50% EACH

1)  CAN THE DIVIDE 25 LACS IN THERE PERSONAL ACCOUNT

2) DO THEY HAVE TO PAY DIVIDEND DISTRIBUTION TAX

WHAT IS THE SOLUTION TO WITHDRAW PROFIT FROM BUSINESS OF PRIVATE LIMITED AS THEY WANT TO PURCHASE HOUSE IN THERE PERSONAL NAME