can a pvt ltd can accept loans from oher pvt ltd
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can a pvt ltd can accept loans from oher pvt ltd
Replies (4)
My mistake 372A not applicable to Pvt co.
Yes, it can .372 A will be applicable if it is a subsidiary of a public company otherwise not.
regards,
Ramesh Kr Verma
Check the relationship between the two company.
because the section 2(22)(e) of income tax act says that
loan form the related company will be treated as deemed dividend.
Private company can not invite anybody to give deposit to it, but it can take deposit, loan, etc. from the known persons like director, shareholder, friends, etc.
Ankur Shah (Practicing Company Secretary)
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Yes, private Co. can take loan form other private company and it will not, in any way, be considered as deposit. It will always considered as unsecured loans.
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