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Loans by directors

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Querist : Anonymous

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Querist : Anonymous (Querist)
05 January 2017 Whether a company can take loan from Director's HUF? Is Director's HUF covered in the definition of relative or does it imply a relation between the members of HUF?
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CS JAY GOHIL

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CS JAY GOHIL (Expert)
05 January 2017 YES COMPANY CAN TAKE LOAN FROM DIRECTOR'S HUF. U/S 2(77) HUF IS INCLUDE IN RELATIVES.
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Querist : Anonymous

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Querist : Anonymous (Querist)
05 January 2017 Section 2(77) allows members of HUF to give loan and not the HUF?
Since it is written that "they are members of HUF"
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CS JAY GOHIL

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CS JAY GOHIL (Expert)
05 January 2017 YES MEMBERS CAN GIVE LOAN NOT HUF.

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