Hello,
Daily Cash exps limit of Rs. 10000/- apply for loan given to director in cash..
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Daily Cash Exps Limit
Replies (7)
Can You explain Your query again.
Company had given amount of Rs 30000/- in cash to director and shows as loan to director.
Now my question is limit of 10 k applicable on same or not?
Now my question is limit of 10 k applicable on same or not?
Not applicable,shah
Please go to refer sec 185 and 186 of CA...
i think daily cash exp limit will not be applicalble in this case
As per above said Companies Act Loan to director not applicable...
The provision specifies limits only for expense(Payments). Loan given to director in never an expense.
However, provision of deemed dividend may attract if conditions are fulfilled.
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