Unsecured Loan

This query is : Open

Mukesh Kumar (Querist)
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31 March 2010 Hi everyone
If a X pvt. ltd. takes an unsecured loan [without interest]from another Y pvt. ltd. then...

Can X pvt. ltd. paid some amount by Cash ?

What is the procedure if x pvt. ltd. didn't pay unsecured loan till 31st march ?

Thanks in advance

cheers

Mukesh Kumar
Delhi

Abhishek Baheti

Abhishek Baheti (Expert)
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31 March 2010 Yes X Ltd. can pay some amount by cash.(But should keep in mind Income tax provision.) There is no procedure if unsecured loan is pending on 31st March, you have to show it in Unsecured loan.

Mukesh Kumar

Mukesh Kumar (Querist)
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31 March 2010 Thanks for reply...

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