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Can director give loan to company by the way of cash deposit in bank(company's)?

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(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.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
23 November 2022 It's Possible upto Rs 20000 in cash under section 269SS.
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G Prathiba

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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.



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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
24 November 2022 No, company can't accept in excess of 20,000.
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Ravinder Singhal

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Ravinder Singhal (Expert)
27 June 2023 20k aggregate in whole year or can deposit below 20k multiple time Please suggest
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
27 June 2023 It's aggregate in whole year.

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