Can director give loan to company by the way of cash deposit in bank(company's)?
This query is : Resolved
Quick Summary
G Prathiba
(Querist)
23 November 2022
Can director give loan to company by the way of cash deposit in bank(company's)?
is this possible?
If it possible please give an explanation.
Please, reply.
Thank you.
is this possible?
If it possible please give an explanation.
Please, reply.
Thank you.
CA R SEETHARAMAN
(Expert)
23 November 2022
It's Possible upto Rs 20000 in cash under section 269SS.
G Prathiba
(Querist)
23 November 2022
Sir, if the company received cash in its bank account. In this scenario, can a company accept or not?
Thanks in advance.
Thanks in advance.
CA R SEETHARAMAN
(Expert)
24 November 2022
No, company can't accept in excess of 20,000.
Ravinder Singhal
(Expert)
27 June 2023
20k aggregate in whole year or can deposit below 20k multiple time
Please suggest
CA R SEETHARAMAN
(Expert)
27 June 2023
It's aggregate in whole year.
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