Cash loan from director in pvt ltd company

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

05 July 2018 Hi Experts,

Company has received loan from director sum of around 8L in FY 2017-18, Now I got to know that cash loan from director more than 20K is disallowed. I request to provide us suggestions about how to account this in alternative way.

Thank you.

JAGANATHAN R ACMA, SAP(Fi-Co)

JAGANATHAN R ACMA, SAP(Fi-Co) (Expert)
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05 July 2018 First of all we have to avoid the cash transaction in company., if u want alternative solution you can segregated the amount and accountd difference dates

Querist : Anonymous

Querist : Anonymous (Querist)

05 July 2018 Hi Sir,
Thanks for your response, It is in the different dates but the total amount for the FY is Rs.8L.
Is there any other suggestions like loan from relatives, passing resolution to increase the director cash loan limit, etc.

Thank you.

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