Loan from director
This query is : Resolved
03 September 2013
Client has taken loan of Rs. 5350000 from the Director.
The loan is received through two cheques on the same day.One amounts to Rs.5000000 and the other of Rs.35000?
What could be the reason for this? Is this being done to hide the violation of some provision of the Act?
The loan is received through two cheques on the same day.One amounts to Rs.5000000 and the other of Rs.35000?
What could be the reason for this? Is this being done to hide the violation of some provision of the Act?
03 September 2013
This is not a very big amount and may be for business purpose. This kind of transactions is not new nowadays. Further this transaction is a transparent one and entire money was transferred through cheques. Further request you to straight away get in touch of clients and take relevant clarifications.
Thanks
Thanks
03 September 2013
Thank You Sir.
Is TDS to be deducted in case of payments made to MTNL, Loop, TATA etc for Telephone and Internet charges paid and if threshhold limit crossed?
Till aug, payment to TATA of Rs.49000 has been made. There are probable chances that 75000 may be crossed. So should TDS be deducted from next month onwards?
Is TDS to be deducted in case of payments made to MTNL, Loop, TATA etc for Telephone and Internet charges paid and if threshhold limit crossed?
Till aug, payment to TATA of Rs.49000 has been made. There are probable chances that 75000 may be crossed. So should TDS be deducted from next month onwards?
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
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
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
