1) Can a Pvt. Ltd. Company give loan to Director?
2) Can a Pvt. Ltd. Company give loan to Partnership Firm?
Please explain easily...
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Loan to director
Replies (3)
yes, but it will be taxed in the hands of director as deemed dividend
in the case of firm, once again none of the directors should be partner of the firm. if so then it will be taxed in the hands of the director as deemed dividend
in the case of firm, once again none of the directors should be partner of the firm. if so then it will be taxed in the hands of the director as deemed dividend
That means you want to say:-
1) If Pvt. Ltd. Company give loan to director then it will be treated as deemed dividend. In this case director will be liable to pay income tax on it?
2) If Pvt. Ltd. Company give loan to Partnership firm then it will be taxed in the hand of the Partner?
1. yes
2. yes but that partner or any of the other partners should have substantial interest in the company as a director
2. yes but that partner or any of the other partners should have substantial interest in the company as a director
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