Loan to director
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 September 2016
A pvt. company has given a loan to director, does it require a disclosure in directors report in the point "particulars of loans, guarantees or investments under section 186".
Is there any limit for advancing a loan to directors and person whom he is interested??
Is there any limit for advancing a loan to directors and person whom he is interested??
12 September 2016
Pursuant to Section 185, a company can not advance loan to directors or related parties (as specified). However, on 15th June, 2015, MCA issued a notification wherein an exemption was provided to Private limited company in this regard.
As per this exemption, if the company is fulfilling few conditions, section 185 does not applicable to such pvt company. Kindly refer this notification.
With regard to your question, you need to disclosure such details (loan to directors) in Directors Report with regard to Section 186.
As per this exemption, if the company is fulfilling few conditions, section 185 does not applicable to such pvt company. Kindly refer this notification.
With regard to your question, you need to disclosure such details (loan to directors) in Directors Report with regard to Section 186.
12 September 2016
Date of notification is 5-6-2015 and not 15-6-2015.
12 September 2016
Sorry. Thank you for clarification.
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
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- 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
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- Capital gain consideration
- TDS deduction (debit notes)
- Can a partnership firm become partner in a LLP ?
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- 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
- TDS on purchase of value vouchers for employees ?
- 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 ?
Trending Online Classes
CAclubindia
