Mortgage loan money investment in pvt ltd company
This query is : Resolved
Mohith Guptha
(Querist)
25 January 2019
Dear Sir/Madam,
we are 6 members of family as directors in our pvt ltd company, out of these 6 directors, 4 of us have a property jointly registered for which we have taken a mortgage loan from bank.
I would like to know can we bring that money taken from mortgage loan and invest in the pvt limited company in which we are directors. If we can in what ways and sections of the law, what shall be the implications of the same in income tax and GST.
Request your suggestion on the same.
Thanks in advance.
Regards
MKG
we are 6 members of family as directors in our pvt ltd company, out of these 6 directors, 4 of us have a property jointly registered for which we have taken a mortgage loan from bank.
I would like to know can we bring that money taken from mortgage loan and invest in the pvt limited company in which we are directors. If we can in what ways and sections of the law, what shall be the implications of the same in income tax and GST.
Request your suggestion on the same.
Thanks in advance.
Regards
MKG
25 January 2019
Can invest as share capital in the company but not as loan to company.
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
- Query on effect of registration of property
- GST on reimbursement of expenses
- Visiting card purchase
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Additional trade name
- Wrong CMPo8 file
- Whether output tax is taken credit by purchaser
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Number of years as per AS amortisation of Goodwill
- Equity Share Sale and Purchase
- Foriegn assets disclosure
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
