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accepting loans from third party individual by a company
What is the consequence if a private limited company accepts loans from third party individual
Replies (3)
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.
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.
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.
| 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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