Unsecured loan from shareholder
This query is : Resolved
20 September 2015
Dear Friends / Experts,
Please guide me on the following, IF POSSIBLE:
Query
A Private Limited Company had taken Unsecured Loan from its Shareholder. Whether such Shareholder’s Loan shall be treated as a Related Party’s Loan or it shall be considered as Loan from Others?
Your reply, please..............
Thanks in advance for possible replies from all concerned.
Please guide me on the following, IF POSSIBLE:
Query
A Private Limited Company had taken Unsecured Loan from its Shareholder. Whether such Shareholder’s Loan shall be treated as a Related Party’s Loan or it shall be considered as Loan from Others?
Your reply, please..............
Thanks in advance for possible replies from all concerned.
21 September 2015
There should not be a question of 'Loan from related party' or 'loan from others'. Section 188 does not apply here.
However, you need to comply with Section 73, since the company has taken loan from Shareholders. Earlier, loan from shareholders was not allowed. But with effect from 05th June, 2015, it is allowed in Private limited company subject certain conditions.
hence, please refer notification dated 05th June, 2015 (Section 73)
However, you need to comply with Section 73, since the company has taken loan from Shareholders. Earlier, loan from shareholders was not allowed. But with effect from 05th June, 2015, it is allowed in Private limited company subject certain conditions.
hence, please refer notification dated 05th June, 2015 (Section 73)
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
- Tax on Deemed Capital Gain
- Type of Capital Gain
- Exiting partner in partnership firm in gst portal
- Banking Related Issue
- ASMT-10 received from A O
- ITR-3 File/Error Found
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- Difff in ais receipts and gst turnover
- Gst on travel by air for business purposes
- Can a single LLP in India legally operate multiple unrelated businesses (Travel, Cloud Kitchen, Ecom
- CASH GIFT FROM BLOOD RELATIVE
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
- Rent claimed on building given on permissive possession basis
- TDS on property - Form 141 query
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
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
