I will recieve loan from my cousin brother ( son of massi ji). I want to start new business as partnership with my wife as partner.
1) can i use loan from my cousin in my business,
a) if i open a partnership firm.
b) instead if i go for pvt ltd.
my cousin will transfer loan to my savings account.
2) do i have to pay interest to my cousin?
thank you in advance
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(Loan to partnership firm)
Replies (4)
It will be my pleasure to solve all your doubts. Dropping my details in your inbox.
1) You can use it,Go for partnership rather than pvt ltd.
2) Paying interest depends on your agreement , it is not mandatory
2) Paying interest depends on your agreement , it is not mandatory
@ CA Aakarsh Jain What nonsense going on, this is public platform and not your solicitation centre, if you know reply on post why you dm your details .
Private limited companies cannot raise loan or FUNDS from third parties. if you can make your cousin as one of the director, you can go with PVT LTD else partnership firm is the better option
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