Loans by directors

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Querist : Anonymous

Querist : Anonymous (Querist)

05 January 2017 Whether a company can take loan from Director's HUF? Is Director's HUF covered in the definition of relative or does it imply a relation between the members of HUF?

CS JAY GOHIL

CS JAY GOHIL (Expert)
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05 January 2017 YES COMPANY CAN TAKE LOAN FROM DIRECTOR'S HUF. U/S 2(77) HUF IS INCLUDE IN RELATIVES.

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Querist : Anonymous

Querist : Anonymous (Querist)

05 January 2017 Section 2(77) allows members of HUF to give loan and not the HUF?
Since it is written that "they are members of HUF"

CS JAY GOHIL

CS JAY GOHIL (Expert)
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05 January 2017 YES MEMBERS CAN GIVE LOAN NOT HUF.

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