Dear All
Urgent Please
Pankaj Arora (Learner) (3134 Points)
23 March 2011
4 Replies
SANTOSH SHAH
(Company Secretary)
(754 Points)
Replied 23 March 2011
| Originally posted by : Pankaj Arora | ||
 |
Dear All Director of Pvt.ltd. company paid salary to staffs by Cash can we treat it as loan from director or maintain director’s current A/c. Please confirm the total salary paid by him Approx 2.50lacs for whole the financial year. Please confirm |
 |
Hello Mr.Pankaj
In my opinion, salary paid to staff cannot be considered as Loan.
You need to have Bank account where your staffs or employees amount be credited.
If its small company, then too at least have a Salary Register to record the salary paid for respective
staffs for respective month. It needs to be accounted and shown as Salary paid in your profit & loss acct.
Other views welcome.
regards
Santosh Shah
Bharat Diwan
(Company Secretary)
(38 Points)
Replied 23 March 2011
Hii
I think if the director has paid from his own pocket then it can be treated as loan from directors.
Pankaj Arora
(Learner)
(3134 Points)
Replied 23 March 2011
HI Bharat
The company is rent out the premises for warehousing purpose and appointed two staff.
The salary of the staff paid by the director every month by cash please confirm how it accounted ?
Bharat Diwan
(Company Secretary)
(38 Points)
Replied 23 March 2011
Hi Pankaj
I think the Directors must want to make their payments secured and want to treat their payment as loan from Directors in the books of the company.
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