Interest paid to company director father
This query is : Resolved
28 December 2023
i am director of a private limited company i borrowed money from my father as a loan we agreed for 2% interest per month for loan amount
my question is:
1)can director father give loan to company?
2) is TDS need to deduct if company pay interest to DIRECTOR father
3) can company show interest paid to director father AS EXPANSES?
my question is:
1)can director father give loan to company?
2) is TDS need to deduct if company pay interest to DIRECTOR father
3) can company show interest paid to director father AS EXPANSES?
20 January 2024
This article will be helpful as well https://taxguru.in/company-law/loan-director-shareholders-companies-act.html
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