Deposits and Interest
This query is : Open
05 June 2010
Are there any restrictions on deposits and interest thereon :
1. From Directors in a closely held public ltd. company.
2. From Partners in a Partnership Firm?
Regards,
Rajiv Kaicker
1. From Directors in a closely held public ltd. company.
2. From Partners in a Partnership Firm?
Regards,
Rajiv Kaicker
05 June 2010
1. Loan can be taken from directors only in a public limited company. Interest can be paid as per prevailin market conditions.
2. If loan is taken from partner it will be added to the partners capital a/c and interest allowable is 12% p. a. subject to the mention of the same in the partnership deed.
2. If loan is taken from partner it will be added to the partners capital a/c and interest allowable is 12% p. a. subject to the mention of the same in the partnership deed.
Message likes :
1 times
06 June 2010
What about acceptance of deposits from shareholders and directors in a public company ?
07 June 2010
My question is regarding the ceiling limit on deposits from shareholders and directors in a closely held public company.Are the limits under category I and Category II interchangeable ?
07 June 2010
My question is regarding the ceiling limit on deposits from shareholders and directors in a closely held public company.Are the limits under category I and Category II interchangeable ?
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Traces Portal
- U/s.234E late fee- balated filing the TDS returns
- Minor Aadhar card cancelled
- Clubbing of Income - Minor
- Regarding Individuals Retuned to India and Resident currently
- ERROR IN DEPRECIATION CALCULATION IN PREVIOUS YEAR COMPANY'S BOOKS
- Rectification of TDS return - Sale of property
- Capital Gain Incidents
- FORM 121 UNDER NEW INCOME TAX ACT 2025
- Applicability of corporate governance provisions as per the SEBI LODR
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
