Unsecured loan.
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 July 2012
Sir,
One of pvt ltd company(a) taken unsecured loan from person(B). B is taken the same amt from individuval (c). The interest on unsecured loan directly pay to 'c' by 'a'.
In the books of accounts in compnay loan is in the name of 'b'. The problem is Which I can deduct the TDS and whom to issue? Pls clarify. What entries can do?
Thanking you,
One of pvt ltd company(a) taken unsecured loan from person(B). B is taken the same amt from individuval (c). The interest on unsecured loan directly pay to 'c' by 'a'.
In the books of accounts in compnay loan is in the name of 'b'. The problem is Which I can deduct the TDS and whom to issue? Pls clarify. What entries can do?
Thanking you,
Guest
Guest
(Expert)
17 July 2012
This type of payment is not allowed by income tax. Kindly make necessary entries to make payment of interest to Mr. B only. Payment of interest to Mr C is the head ache of mr. B why is the company bothered about that?
Also inquire whether Mr. C is related to Directors/ Promoters/ Kay Mgt. Person of the company?
Also inquire whether Mr. C is related to Directors/ Promoters/ Kay Mgt. Person of the 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
- Is this income indian or foreign income?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Disallowance of Section 43B(h) to sez units
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- 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
- 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 ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
Trending Online Classes
CAclubindia
