if a director gives loan to his own pvt co of1lac every month,hw is this amt 2 b paid back 2 d director by d co?and is tds to b deducted?if yes then at what rate?if yes then on what amt?hw 2 calculate it?
eg,i hav transferred 5lac 2 mi pvt ltd co since july,and the co hav returned 30000/- to the director till date,but hav not deducted any tds til date..will d co hav 2 file quaterly tds return?
what are the implications and what to do now?
ok i understand no tds on the principat amount,but i hav 2 deduct tds on the interest amount rite?
if yes,then at what rate will the interest b charged and is charging of interest mandatory?
also i hear that transfering of director personal funds to the pvt co is not allowed?is it true?
how to refund the money to the director?
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