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Tax implications of loan from director

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Querist : Anonymous

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Querist : Anonymous (Querist)
05 March 2013 tax implications of loan from director in case of pvt. Ltd. Company where all shares held by directors only
is there any limitation in such case under companies act
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CA Parul Saxena online

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CA Parul Saxena online (Expert)
05 March 2013 Very few corporate laws are applicable on private companies.....so as per my knowledge no restriction is there as per company law..
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Querist : Anonymous

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Querist : Anonymous (Querist)
05 March 2013 thank you
but is it possible to convert loan in shareholding
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