Related party transaction

This query is : Resolved 

07 November 2019 does loan taken by pvt. company from its directors comes under Related Party Transaction under companies act...do we have to report in Notice To Director's Report ?

08 November 2019 Yes, It is a related party transactions.

08 November 2019 sir... can we show it under head deposits " exempted deposits " in Directors report ?
In balance sheet also we have to give " Notes to Account ' for this ?


08 November 2019 Yes, It is shown in board's report as well as Notes to account. Further go through the provisions of deposits under companies act as there are many situations related to this.
Further more please consider sec 2(22)(e) of income tax also (ie., Deemed dividend)

08 November 2019 Thank u sir for your valuable reply.



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