a company how much cash loan received from director per year ?
1 Replies
Yogesh Shah
(Managing Corporate Finance)
(1051 Points)
Replied 26 March 2014
Pls refer Sec 269 SS of Income Tax Act .. Acceptance of Cash loan exceeding Rs 20k is not allowed.. Loan from director is also covered.. Pls also note that under Companies Act, company can accept loan from directors.. But if cash exceeding limit is involved, income tax becomes active
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