Loan by pvt ltd co
This query is : Resolved
CA Pramod Jain
(Querist)
06 September 2013
a company whose main object is trading, has not done any trading business in last 2 years.
co is having surplus fund which it has given to some unreltaed co as ICD @ 17% p.a.
now it is having whole income from interest.
whether there is any restriction with respect to NBFC as it is having income from Interst (100%).
co is having surplus fund which it has given to some unreltaed co as ICD @ 17% p.a.
now it is having whole income from interest.
whether there is any restriction with respect to NBFC as it is having income from Interst (100%).
Ajay Mishra
(Expert)
06 September 2013
Generally its income is not commence from business. Generally your company is not allowed to finance other company, if that company is not related with your company.
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