A Pvt Ltd company issued shares to its Unsecured Loan Lenders against his loan .
Then what will be wtitten in Repayment Column of clause 31(a)/(b) of sec 269SS/T of IT Act in Form 3CD ?
Shubham Kumar (Article Clerk) (34 Points)
11 October 2014A Pvt Ltd company issued shares to its Unsecured Loan Lenders against his loan .
Then what will be wtitten in Repayment Column of clause 31(a)/(b) of sec 269SS/T of IT Act in Form 3CD ?
kanh singh
(CA Article)
(121 Points)
Replied 17 October 2014
I think it is not repayment because repayment can be made only by way of account payee cheque in case of unsecured loan exceeding 20000. But i am not sure. Hence you have to wait for any expert reply. I am also waiting for the same.
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