Interest free loan taken from director
This query is : Resolved
25 February 2020
Dear All ,
Any income tax provision applicable. if director giving interest free loan to it's company . and company not paid any interest to director . and director borrowed loan amount from bank on his own account.
Any income tax provision applicable. if director giving interest free loan to it's company . and company not paid any interest to director . and director borrowed loan amount from bank on his own account.
25 February 2020
director can give interest free loan to company
25 February 2020
Director cannot lend borrowed money to company since it is a violation of Companies (Acceptance of Deposits) Rules,2014.
29 February 2020
Check the type of company Pvt Ltd, public ltd,OPC, Section 8 Company..
There few exceptions
25 May 2020
Agree with B.Chackrapani Warrier SIr.
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