unsecured loan to sister concern
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 August 2011
Our Directors have One Pvt. Ltd Co. & One Ltd. (Not Public Ltd) Co. Should Pvt. Ltd. Co. give the Loan To Sister Concern Ltd Co.(Non Public Ltd).
07 August 2011
Pl. Refer Section 2(22)(e) and also see the accumulated profits of the company providing loan. It can be treated as deemed dividend income in the hands of the recepient.
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