Director's remuneration
Querist : Anonymous
I seek to have guidance on the following points :-
1. Whether a Pvt Ltd company running under loss can pay remunerations to it's directors.
2. Can a director of PVT Ltd Company get interest free loan from his pvt ltd company?
With best regards
As regards to your second query, the private limited company can't give loan to its director. Since the same will amount to deemed dividend under sec 2(22)(e)and become taxable.
Regards
2. Yes. But only with the prior approval of central govt. u/s 295.
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