Hi,
Can a partnership firm or pvt company can take or give loans from or to known persons or their business for working capital without interest and repaying later. What provisions will attract for this transaction.
rakesh (student) (457 Points)
20 September 2022Hi,
Can a partnership firm or pvt company can take or give loans from or to known persons or their business for working capital without interest and repaying later. What provisions will attract for this transaction.
Yasaswi Gomes new
(Finance )
(4487 Points)
Replied 30 September 2022
You have absolute liberty to aquire such unsecured finances from third parties. No tax acts mentioned https://www.businesstoday.in/magazine/savings/story/caution-before-lending-money-to-family-member-or-friends
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