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Daily Cash Exps Limit

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consultant
152 Points Posted on 28 July 2018
Hello,

Daily Cash exps limit of Rs. 10000/- apply for loan given to director in cash..
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On 28 July 2018 at 15:37 Report
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"Do the Right Thing...!!!"
128152 Points Posted on 28 July 2018
Can You explain Your query again.
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On 28 July 2018 at 16:55
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consultant
152 Points Posted on 28 July 2018
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?
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On 28 July 2018 at 17:24
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2 Points Posted on 30 July 2018
Not applicable,shah
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On 30 July 2018 at 22:50
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"Do the Right Thing...!!!"
128152 Points Posted on 30 July 2018
Please go to refer sec 185 and 186 of CA...
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On 30 July 2018 at 23:35
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6 Points Posted on 01 August 2018
i think daily cash exp limit will not be applicalble in this case
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On 01 August 2018 at 00:21
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"Do the Right Thing...!!!"
128152 Points Posted on 01 August 2018
As per above said Companies Act Loan to director not applicable...
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On 01 August 2018 at 07:52
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CA
42 Points Posted on 04 September 2018

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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On 04 September 2018 at 18:59


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