unsecured loan from directors
This query is : Resolved
19 November 2008
Can a Public Ltd Co. and a Pvt. Ltd CO. can take unsecured loans from its directors who are also the shareholders.
If yes, then upto what amount?
Further, can a public ltd co. and a pvt. ltd co. can advance loans to its directors. If yes, then upto what amount?
Please ans
Thanx
If yes, then upto what amount?
Further, can a public ltd co. and a pvt. ltd co. can advance loans to its directors. If yes, then upto what amount?
Please ans
Thanx
19 November 2008
Loan can be taken no limit.
Loan to directors - shall comply with sec 295 of the act.
Pvt company - Not applicable of sec 295.
any transaction represented by a book debt.
Loan to directors - shall comply with sec 295 of the act.
Pvt company - Not applicable of sec 295.
any transaction represented by a book debt.
19 November 2008
as per sec 295 - Previous approval of CG is required in every case falling under this section.
19 November 2008
If a profit making private limited company give loan/advance to its directors provisions of section 2(22)(e) of the income tax act,1961 applies.
25 November 2008
Thanx for the answer
Further I want to know that loan to a director can be interest free or not in a pvt ltd company earning few profits.
Plz ans.
thanx.
Further I want to know that loan to a director can be interest free or not in a pvt ltd company earning few profits.
Plz ans.
thanx.
17 December 2008
First of all Section 295 is not applicable to a private limited company.In my opinion interest free loan can be given to a director by a private ltd Co.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS on Consultancy- Non DTAA
- Depreciation of fixed assets- coop housing society in mumbai
- Reopen of assessment proceeding
- Management System (IMS)
- FTS Taxable under 115A
- Experts need help
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- EPF FULL & FINAL RULES IN 2026
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- COMMERCIAL INVOICE FOR MATERIAL AND FREIGHT
- Gift Received from nonblood relative
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
