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This question is being asked almost everyday sometimes more than once a day here. The guide and rules do not say anything about this unfortunately.pichas wrote:Hi everyone,
A quick query. I have been going through the forum but bit confused regarding one point.
If 50K is transferred in one go from personal to business account via Unsecured Director's loan, 50K investment is satisfied. Moreover, the money will be spent on rents, employees' salaries, advertisement. But What about the limit on expenses? Is there any requirements that all 50K has to be spent within 3 years for the entitlement of Extension?
Please kindly shed some light under it.
Thanks
Better to be Director's LoanRayees wrote:Hi Zimba88,
Based on the above , a simple question what should be the reference while transferring the funds from personal to business ( should the ref be invesment or director loan 1 , since iam planning to do atleast 3 transactions )
Appreciate your quick response
yes, you should be fineRayees wrote:Thanks Zimba88, one more question does Paying bonus to the employees be considered towards the inverstment in the form of expenses or no