Loan frm company
This query is : Resolved
01 March 2012
My query is that if a director takes loan from company, is it mandatory to pay interest on that loan? if yes than what percentage of interest should director pay.
Ajay Mishra
(Expert)
01 March 2012
Should not be less than PLR.
Message likes :
1 times
Ankur Garg
(Expert)
02 March 2012
As per my understanding it is very much advisable to charge interest from the director. This will amount to right accounting.
If u not take interest from director, auditor may object to the transaction.
So charge interest from director as well.
Regards
If u not take interest from director, auditor may object to the transaction.
So charge interest from director as well.
Regards
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