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Loan to director


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Querist : Anonymous

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Querist : Anonymous (Querist)
10 December 2016 Dear Experts
An individual is director in pvt. Ltd. Company say ABC pvt. Ltd the company has given the interest free loan to director Rs. 10 Lakh who is only director not share holder. Pls let me know in this scenario weather this
Loan amount shall be taxable in the hand of employee or not treating it as deemed dividend?

Thanks & Regards
Anmol Kumar

11 December 2016 Whether Director is an employee ? Whether the loan facility is available and actually given to other employees on same terms and conditions?



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