Loan from shareholder who is company
This query is : Resolved
16 March 2016
Sir,
Can a Pvt. Ltd. Company take Loan from its Shareholder who is also a Company Under Companies Act, 2013 Provisions??
Dipul Mehta
Can a Pvt. Ltd. Company take Loan from its Shareholder who is also a Company Under Companies Act, 2013 Provisions??
Dipul Mehta
17 March 2016
It will be treated as Inter Corporate Deposits and is exempt deposit.
17 March 2016
Please refer Rule 2(c)(iv): any amount received by a company from any other company is exempted deposit.
Message likes :
1 times
23 March 2016
it can take loan provided section 73 to be complied with. (also refer exemption to pvt. ltd companies dated 5 june 2015).
further it is not exempted deposit as suggested by ankur sir, as it will be treated as shareholder not as a unrelated company.
further it is not exempted deposit as suggested by ankur sir, as it will be treated as shareholder not as a unrelated company.
24 March 2016
@ BUNNY SIR AND ANKUR SIR KINDLY GIVE EXACT ANSWER I M ALREADY IN CONFUSION.......
25 March 2016
It will be treated as deposit and company have to comply section 73 and rules thereof to accept the loan.
01 April 2016
In this case the provisions of Deposits need not to be complied with and it will be treated as exempted deposit.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- RCM INVOICING FROM NOV-2024
- Should I report my US salary for January, February, March in Schedule FA?
- GST ON EXPORT COMMISSION
- Confusion around Form 26QB fields
- Adjustment entry in the case of Individual and HUF on 31st March
- Stock difference tax applicable on composite rate or normal rate
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
