Dear Freinds ,
I have a private limited start up company were in we are raising equity and funds to certain level from the family members .
Please guide as under what head this can be considered as this may be a loan without interest and from a individual and not a financial institution .
Should there be a agreement done with the individual to define the period in which has to be paid or not.
Should the payment or funds be received through a cheque or through cash in the company account.
Please do provide your feedback on this.
CAclubindia
