Company to firm loan
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 June 2010
Is it possible to the firm to take a loan from company where the director of the company and partners of the firm are the same
Please answer and how
Please answer and how
CA. B.SRINIVASULU
(Expert)
02 June 2010
If the company is not a financial institution and there are accumulated profits if the firm takes loan then it becomes deemed dividend and the pvt ltd company has to pay dividend distribution tax.
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