Loan to director by pvt company
This query is : Resolved
21 April 2012
Dear All,
My query is that whether a Pvt Ltd Company can give Loan to its Director. If yes, id there any limit or any time frame within which he has to return back the loan.Also the sections applicable to it.
Thanks in Advance
Amit Jain
My query is that whether a Pvt Ltd Company can give Loan to its Director. If yes, id there any limit or any time frame within which he has to return back the loan.Also the sections applicable to it.
Thanks in Advance
Amit Jain
21 April 2012
Yes. A Pvt Ltd Company can give loans to its Directors provided the AOA authorised the same to do to the company. There is no specific provision regarding restriction/limitation of loans to dir in case of Pvt Ltd Co.
21 April 2012
Dear Mr. Amit,
Please read section 2(22)(e)of income tax also, it may be treated as deemed dividend under certain circumstances.
Please read section 2(22)(e)of income tax also, it may be treated as deemed dividend under certain circumstances.
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
- Reporting Income under Section 44ADA
- Itr 1 processing
- Building and other construction workers welfare cess act 1996
- ITR 1: Details for showing Exempt Income
- Bank Accounts in Balance Sheet for ITR 3
- ITR validation error - Balance sheet is not filled
- TDS ON CASH WITHDRAWALS...
- Query regarding TDS on EPFO Higher Pension Arrears*
- Bank accounts of Non resident
- ITR Filing Requirement for Partnership Firm Registered but Business Not Commenced
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Annual return of gst limit
- Delisted shares sold in off market/ Rebate u/s87A
- Error whiling application of GST REFUND (ANNEXURE B)
- While filing GSTR9 accountant couldn't entered the ITC values in Table 6, in 9C it is not accepting
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
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
