If a director, gives money to the company in which he is a director , then 1.whether that will be considered as loan from director .?
And if Yes then whether Co. has to pay interest on that ?
and again if yes , then whether tds will be deducted if it exceeds.2500?
please send information about whether TDS applicable
The payments made by director can be considered as loan from director. If approved by the Board, interest is paid on loan from directors. TDS is applicable @ 10% .
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