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Direct Tax

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(Querist)
07 December 2019 Waiver of Director Loan in books of company whether attracts Tax Liability in books of company and director books what is impact in tax.

Main motive of company to waive director loan to adjust loss of company.
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Asha Kanta Sharma

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Asha Kanta Sharma (Expert)
26 May 2020 I think waiver is not possible until someone is BANKRUPT.

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