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.
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