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accepting loans from third party individual by a company

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TRAINEE
21 Points Joined August 2010
What is the consequence if a private limited company accepts loans from third party individual
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On 10 January 2018 at 20:52 Report
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CA Final Student
418 Points Joined September 2014
There is no such consequence in accepting loan from third party individual.
things can keep in mind:
1 interest amount that will be payable if any need not to more than market interest so as not to attract any disallowance.
2 In case of NBFC lender liability to deduct TDS would arise on interest paid.
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On 10 January 2018 at 21:09
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article
98 Points Joined April 2016
By virtue of section 73, such loan will be classified as deposits and if that third party is not relative of directors, thn acceptance of such loans is a non-compliance of section 73.
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On 19 January 2018 at 01:11
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CS
755 Points Joined August 2009
Originally posted by : Bhargav parekh
By virtue of section 73, such loan will be classified as deposits and if that third party is not relative of directors, thn acceptance of such loans is a non-compliance of section 73.

Here the question is for Private Limited.
What is the situation in the AMendment Act of 2017

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On 25 January 2018 at 11:42

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