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Tax implications of loan from director (Income Tax)

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This query is : Resolved

Author : Anonymous

( Author )
05 March 2013

 tax implications of loan from director in case of pvt. Ltd. Company where all shares held by directors only
is there any limitation in such case under companies act


CA Parul Saxena

( Expert )
05 March 2013

 Very few corporate laws are applicable on private companies.....so as per my knowledge no restriction is there as per company law..


Author : Anonymous

( Author )
05 March 2013

 thank you
but is it possible to convert loan in shareholding



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