loan to shareholder
This query is : Resolved
30 August 2010
ashok shah
dearsr
can pvtltd co give loan to shareholder or other person for short time.
dearsr
can pvtltd co give loan to shareholder or other person for short time.
30 August 2010
Yes it is possible through a board resolution.
A private co. can extend loan to its shareholders and directors.
Regrds
A private co. can extend loan to its shareholders and directors.
Regrds
30 August 2010
Yes a Private Limited company can give loan to Shareholders, Directors and outsiders. But keep an eye on provisions of sec 2(22)(e) of The Income Tax Act while advancing loan to shareholders holding 10% or more shares as the amount of loan can be added to the income of recipient of loan as deemed dividend. But no harm to the company.
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