Hi!
What are the implications of lending money by an NBFC to it's MD?
Hi!
What are the implications of lending money by an NBFC to it's MD?
Sir,
Thank you for the response.
But as per various Court decisions loan in the normal course of business will not attract section 2(22)(e).
It may be taxed as Parquisit in the hands of the director if Given at an interest rate lower than the market rate, generally 12%.
Is there any restriction under new companies act?
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
View Details
CAclubindia
