Loan to outsider
This query is : Resolved
11 July 2013
Dear Experts,
There is one limited company, have given loan to the individual person. This is allowed? It will be treated under sec 372?
and how to incorporate this event in the Minutes?
Thanks,
siddhi
There is one limited company, have given loan to the individual person. This is allowed? It will be treated under sec 372?
and how to incorporate this event in the Minutes?
Thanks,
siddhi
11 July 2013
Hi
Transaction covered by sec. 372A Rs:
a. Loan to any other body corporate including Deposit and debenture
b. Guarantee / Security, in connection with loan made by any other person to any body corporate & vice versa
c. Security, in connection with loan made by body corporate to any other person & vice versa
d. Investment by way of subscription, purchase or other wise in securities of any other body corporate
In your case loan give to individual person is not covered under section 372A.
Transaction covered by sec. 372A Rs:
a. Loan to any other body corporate including Deposit and debenture
b. Guarantee / Security, in connection with loan made by any other person to any body corporate & vice versa
c. Security, in connection with loan made by body corporate to any other person & vice versa
d. Investment by way of subscription, purchase or other wise in securities of any other body corporate
In your case loan give to individual person is not covered under section 372A.
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
- CAPITAL GAIN BASE ON NOTIFICATION
- NRI starting business in India
- ITDS U/S.194T of Firm
- Unregistered suppliers utility
- Eway bill not cancelled within 24 hous what can be due
- EXPORT COMMERCIAL INVOICE HSN CODE
- Non-Compliance documents have not been submitted by the contractors debited
- TDS ON EMAIL DOMAIN SERVICE BILL
- Capital gain on sale and purchase of plot
- Demand Outstanding AY 2013-14 TDS Deducted not shown in 26as
- Taxable or Tax exempt
- How to pay remaining amount of TDS after due date?
- 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
- Concept of Vendor and customner reconciliation
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
