Mortgage loan money investment in pvt ltd company
This query is : Resolved
Mohith Guptha
(Querist)
25 January 2019
Dear Sir/Madam,
we are 6 members of family as directors in our pvt ltd company, out of these 6 directors, 4 of us have a property jointly registered for which we have taken a mortgage loan from bank.
I would like to know can we bring that money taken from mortgage loan and invest in the pvt limited company in which we are directors. If we can in what ways and sections of the law, what shall be the implications of the same in income tax and GST.
Request your suggestion on the same.
Thanks in advance.
Regards
MKG
we are 6 members of family as directors in our pvt ltd company, out of these 6 directors, 4 of us have a property jointly registered for which we have taken a mortgage loan from bank.
I would like to know can we bring that money taken from mortgage loan and invest in the pvt limited company in which we are directors. If we can in what ways and sections of the law, what shall be the implications of the same in income tax and GST.
Request your suggestion on the same.
Thanks in advance.
Regards
MKG
25 January 2019
Can invest as share capital in the company but not as loan to company.
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