Loans to direcotrs
This query is : Resolved
08 October 2013
as per companies act 2013 can a public co / pvt co give loan to director ? or a company in which such director is interest?
08 October 2013
As per companies act yes but same may be treated as deemed dividend for income tax purpose..
08 October 2013
but director does not hold more than 10% voting power. section 2(22) of income tax treats as deemed dividend only if director hold more than 10 % voting power
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