UNSECURED LOAN BY PRIVATE LIMITED COMPANY TO RELATED PARTIES
This query is : Resolved
03 January 2024
Can a private limited company give unsecured loans to its directors and other related directors
03 January 2024
No... Company can't give loan to directors, (Related Directors) Share holders and Other related parties...
20 January 2024
Seems like a Company can provide loan, guarantee or security without any restrictions under following cases:
a. Given to Managing Director or Whole time Director » as a part of the conditions of service extended by the company to all its employees;
or » pursuant to any scheme approved by the members by a special resolution; or
b. Company providing loan in the ordinary course of business activity.
https://taxguru.in/company-law/company-give-loans-directors-relatives.html#google_vignette
a. Given to Managing Director or Whole time Director » as a part of the conditions of service extended by the company to all its employees;
or » pursuant to any scheme approved by the members by a special resolution; or
b. Company providing loan in the ordinary course of business activity.
https://taxguru.in/company-law/company-give-loans-directors-relatives.html#google_vignette
20 January 2024
Pvt Ltd company can receive loan from Directors, Shareholders. but, company can't give loan to it's directors, shareholders...
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
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- RCM INVOICING FROM NOV-2024
- Should I report my US salary for January, February, March in Schedule FA?
- GST ON EXPORT COMMISSION
- Confusion around Form 26QB fields
- Adjustment entry in the case of Individual and HUF on 31st March
- Stock difference tax applicable on composite rate or normal rate
- 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?
Trending Online Classes
CAclubindia
