Cash loan Limit
This query is : Resolved
16 December 2010
Respected Sir,
Please say how much cash loan can a proprietor borrow from Friend,relatives for his Business.is this loan ussecured.The Proprietor has not given any security.
Please Reply.
Thanks & regards
Please say how much cash loan can a proprietor borrow from Friend,relatives for his Business.is this loan ussecured.The Proprietor has not given any security.
Please Reply.
Thanks & regards
Aditya Maheshwari
(Expert)
16 December 2010
upto Rs. 20,000 per person.
CA Ayush Agarwal
(Expert)
16 December 2010
Yes He Can Borrow Upto 20000 Rs Per Person.
Otherwise Penalty Charge as Per Section 269SS of Income Tax Act.
Otherwise Penalty Charge as Per Section 269SS of Income Tax Act.
16 December 2010
Group for Cash Loan (to be shown as Advance under Current Liab OR Unsecured Loan)
Please Reply.
Please Reply.
CA Ayush Agarwal
(Expert)
16 December 2010
There is No Such Rulling to Show Under Which Head
But Better to Show Under Current Liabilities as a Advance
But Better to Show Under Current Liabilities as a Advance
Aditya Maheshwari
(Expert)
16 December 2010
Lona should be shown under unsecured loans only.
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