Loan by director to company
This query is : Resolved
08 May 2010
Dear sir
Please provide me format of declaration for the exempted deposit which is given by an existing director to the company; and whether this transction will fall under section 299?
Gracious
sanjay srivastava
Please provide me format of declaration for the exempted deposit which is given by an existing director to the company; and whether this transction will fall under section 299?
Gracious
sanjay srivastava
10 May 2010
Directors can provide a loan, provided that the There should be a proper agreement for the assistance provided and the same should not adversely affect the companys interest.
Even though it will not come under deposit you can have a declaration stating that the loan procided by the director is not any borrowed fund.
I am attaching you the declaration as required by you.
TO WHOMSOEVER IT MAY CONCERN
I, (Director name) s/o (Fathers name), Director/shareholder of the company M/s (Company name) residing at (Address proof), hereby declare that I have lend the amount of Rs. (Amount of unsecured loan) to (Company name), as unsecured loan and the funds so lent by me is out of my own fund and has not been borrowed from anybody. The loan is interest free.
Even though it will not come under deposit you can have a declaration stating that the loan procided by the director is not any borrowed fund.
I am attaching you the declaration as required by you.
TO WHOMSOEVER IT MAY CONCERN
I, (Director name) s/o (Fathers name), Director/shareholder of the company M/s (Company name) residing at (Address proof), hereby declare that I have lend the amount of Rs. (Amount of unsecured loan) to (Company name), as unsecured loan and the funds so lent by me is out of my own fund and has not been borrowed from anybody. The loan is interest free.
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
- Gst registered proprietorship firm
- Price inclusive or exclusive of GST while made entry in P& L Account
- TDS Challan - change of FY 2025-26 to TY 2026-27
- AUDITOR APPOINTMENT FOR THE YEAR ENDING MARCH 27
- Minimum tax payable to file Updated return
- Tax rate change regarding
- GST ISSUE OF INPUT AND OUTPUT GST
- GST Intimation due to Government took possession of Business Premises under PPE Act
- SALARY CAN BE CAPITALIZE
- UDIN ISSUE
- Non filing of I T Returns
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
