Loan agreement in the name of directors.
This query is : Resolved
Guest
Guest
(Querist)
07 January 2013
Sir/Madam,
A loan agreement is in the name of the Company and its four directors.
Now, the directors want to show the property in the name of the Company with corresponding credit shown as secured loan from Non-Banking Financial Company.
Tax at source has been deducted on interest paid to Non-Banking Financial Company.
I want to know whether it is possible to show the property as asset of the Company. What are the legal compliance's for this?
Thanks
A loan agreement is in the name of the Company and its four directors.
Now, the directors want to show the property in the name of the Company with corresponding credit shown as secured loan from Non-Banking Financial Company.
Tax at source has been deducted on interest paid to Non-Banking Financial Company.
I want to know whether it is possible to show the property as asset of the Company. What are the legal compliance's for this?
Thanks
25 July 2013
If the property is transferred to the company by way of registered document then it is possible
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
- Opting our of sec 44AD
- Form 121 & TDS deduction
- GST Treatment of Insurance Commission for Existing GST Holder
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- Regarding appeal to GSTAT
- Invoice V/S Goods receipt Note Date
- Multiple trade mark
- Transporter Declaration form
- LC charges in relation to Asset purchased should be Capitalised ?
- TDS LATE PAYMENT
- 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
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
