Interest free loan taken from director
This query is : Resolved
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Deepak vyas
(Querist)
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.
Amol S Joglekar
(Expert)
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.
Eswar Reddy S
(Expert)
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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