Pankaj Arora (Learner) (3134 Points)
23 March 2011
Dear All
Can we maintain director’s current account (not bank A/c) in Pvt. Ltd. Company books and pay salary to staff from this account? Please confirm.
Shriram Ramachandran
(IPCC Student CWA Inter & Processing officer in GNSA Infotech Ltd)
(492 Points)
Replied 23 March 2011
No U cannot maintain Current A/c for director in a company (Both Pvt & Public). U can Show them Under Current Liabilites.
Regards
R Shriram.
CAclubindia
