taxability of loan given to director?
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 November 2009
can any one tell me whether loan given to a director by a private company is taxable in the hands of director? plz also tell the section applicable .
thanks n regards
thanks n regards
10 November 2009
SECATION 295 IS NOT APPLICABLE ON PRIVATE COMPANIES. loan given to a director by a private company or public company is NOT taxable in the hands of director.
11 November 2009
Pl read section 2(22)(e) of the Income tax Act,1961.
11 November 2009
not taxable
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 November 2009
what if the director is also a sharholder in the company with 9% shareholding
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