Loan Vs Deposit
Lalit Shantilal (artical) (27 Points)
05 March 2019
what is the difference between loan and deposit as per CA 2013
2 Replies
shumayla
(CS)
(134 Points)
Replied 08 March 2019
As per Companies Act, 2013, deposit includes any receipt of money by way of deposit or loan or in any other form by a company, but does not include such categories of amount as may be prescribed.
Hence, as per the definition above, deposit is taken at the instance and for the benefit of the person depositing the money. Also, in deposit, the deposit is payable on demand of the depositor. In case of a loan, loan is taken at the instance or for the benefit of the person requesting the money. Loan are payable only when the obligation to repay the amount arises, as per the loan agreement.
Hence, as per the definition above, deposit is taken at the instance and for the benefit of the person depositing the money. Also, in deposit, the deposit is payable on demand of the depositor. In case of a loan, loan is taken at the instance or for the benefit of the person requesting the money. Loan are payable only when the obligation to repay the amount arises, as per the loan agreement.
Priya Kashyap
(Student)
(7053 Points)
Replied 16 March 2019
loan Includes obligation liability
deposit ka just way if accepting receipts
deposit ka just way if accepting receipts
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