borrowing powers of the pvt ltd co.
This query is : Resolved
CA Jeen paul
(Querist)
03 January 2009
my client is a pvt ltd co. a family business. all the directors of the co., is running a partnership firm. the co., want to borrow 30 lakh Rs. from the firm,
pls advise
pls advise
CA. B.SRINIVASULU
(Expert)
26 January 2009
Step 1 : Pass resolution in the company agm or egm authorising diretors to borrow funds and the conditions.
Step 2 : In the board meeting put the prosal for loan and rate of interest should be reasonable.
Step 3 : Now you can take the loan and deduct tds while paying interest.
Step 2 : In the board meeting put the prosal for loan and rate of interest should be reasonable.
Step 3 : Now you can take the loan and deduct tds while paying interest.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Taxation of crypto futures in India Fy 2026- 2027
- MSME disclosure and disallowance
- EPF ECR NEW RULES Sep 17th 2026
- Issuing of delivery challan by seller of goods
- Transfer of Physical Stock Between Two Proprietorship Concerns
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
