Loan frm company
This query is : Resolved
01 March 2012
My Query is that if a director takes loan from the company, will this loan add in the Director's income?, pls clarify it
01 March 2012
No, this loan will be in the nature of loan. It will also depend on your loan terms and conditions.
Message likes :
1 times
02 March 2012
If a director takes loan from company, this loan will not be considered or added in the director’s salary. Rest is dependent on the terms and conditions of loan.
Further if your company is a public company then section 295 is applicable on you and you have to take approval of central govt. before giving loan to your director.
But section 295 is not applicable to a private company.
Regards
Further if your company is a public company then section 295 is applicable on you and you have to take approval of central govt. before giving loan to your director.
But section 295 is not applicable to a private company.
Regards
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
- Exiting partner in partnership firm in gst portal
- CLOSING STOCK QUERY
- TDS _Long term Capital Gain ref.sec 214 Table 2
- TDS on rent received on hardship compensation being rent on redevelopment of building
- Traces submitting correction statement error
- Technical Glitch in ITR-4 Online Form (AY 2026-27): Sec 44AE Partner Remuneration not mapping to E8
- Residential status of non resident
- NRI INSURANCE ADVISOR
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- Applicability of Books of Account for Commission Income (Sections 194D & 194H)
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
- TDS on property - Form 141 query
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
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
