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
- House Property Reporting in ITR
- TDS Claim year
- TDS Challan Code
- Rent lease agreement
- Relief u/s Section 89
- REGARDING SECTION 44AE
- Merchant Export Accounting
- Section 43B(h) – MSME Invoice Paid Before Year End but After 45 Days
- Agriculture income or business income
- Entries in AIS regarding sale of units and shares
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
