Staff Advance
This query is : Resolved
31 December 2010
Dear Experts,
I want to know that:
In a pvt ltd co. can the management grant advance/interest free loan to their staff for Rs.45K by cash? (When staff getting salary fo Rs. 7.5K)
Is there any limitation (Amt.)to sanction advance/intt. free loan to staff (note : Gross salary of such staff is Rs.7500/-).
Is there any time limit to repay such staff advance/loan?
Pls give your valued advice.
Thanks in advance and wish you a happy and prosperous new year.
Regards,
Dulal Chatterjee
dulal.taxconsultant@gmail.com
I want to know that:
In a pvt ltd co. can the management grant advance/interest free loan to their staff for Rs.45K by cash? (When staff getting salary fo Rs. 7.5K)
Is there any limitation (Amt.)to sanction advance/intt. free loan to staff (note : Gross salary of such staff is Rs.7500/-).
Is there any time limit to repay such staff advance/loan?
Pls give your valued advice.
Thanks in advance and wish you a happy and prosperous new year.
Regards,
Dulal Chatterjee
dulal.taxconsultant@gmail.com
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