Loan
This query is : Resolved
06 April 2018
Can an executive director of a private limited company to which he is the executive director give loan to the company?
06 April 2018
Yes.,since
any amount received from a person who, at the time of receipt of the amount, was
director of the Company, will be out of preview of Deposits.
Condition: The director from whom money is received furnishes to the company at
the time of giving the money, a declaration in writing to the effect that the amount is
not being given out of funds acquired by him by borrowing or accepting loans or
deposits from others.
any amount received from a person who, at the time of receipt of the amount, was
director of the Company, will be out of preview of Deposits.
Condition: The director from whom money is received furnishes to the company at
the time of giving the money, a declaration in writing to the effect that the amount is
not being given out of funds acquired by him by borrowing or accepting loans or
deposits from others.
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
- Capital gain from sale of house property
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- Transporter Declaration form
- LC charges in relation to Asset purchased should be Capitalised ?
- Value of property in capital gain
- FORM 26A APPLICABILITY
- Copyright software
- Multiple trade mark
- Opting our of sec 44AD
- GST Treatment of Insurance Commission for Existing GST Holder
- 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
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
