269 ss and st
This query is : Resolved
12 March 2015
My friend started a PVt. company and last year, he taken loan of 10 lack rs from his father for the company. in books it is showing as loan.
I request help to understand.
1. is it illegal and can't be done?
2.if not illegal what need to be done?
as his other partners are telling that it is not legal now, as per some 2009 notification.
they are saying we can't take loan from his father.
if it can be done how it should be treated please let me know.
I need help... please help...
Thanks
ashish roy
I request help to understand.
1. is it illegal and can't be done?
2.if not illegal what need to be done?
as his other partners are telling that it is not legal now, as per some 2009 notification.
they are saying we can't take loan from his father.
if it can be done how it should be treated please let me know.
I need help... please help...
Thanks
ashish roy
13 March 2015
if its loan and not gift then sec 269SS shall be applicable.....
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