Loan from director
This query is : Resolved
22 December 2010
If a company accepts cash from a director in excess of Rs.20,000.00 will it attract Sec 269SS?Can it be shown as unsecured loan in the books of the company?
22 December 2010
Yes , It Attracts S.269SS . You Can Disclose it as Unsecured Loan.
22 December 2010
Dear Anoop,
S.269SS applies only on Loans and Deposits and Not on Advances ( Preferably Business Advances).
I Hope u Got my Point!!
Regds
Ankit Gulgulia
S.269SS applies only on Loans and Deposits and Not on Advances ( Preferably Business Advances).
I Hope u Got my Point!!
Regds
Ankit Gulgulia
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