CAN ANYINE TELL ME WHAT PROVISIONS TO BE SEEN FOR ADVANCE(NOT LOAN)GIVEN BY ONE COMPANY TO ANOTHER COMPANY IN WHICH COMMON DIRECTORS ARE THEIR.(BOTH ARE PVT. COMPANIES)
siva andhavarapu (ca final) (388 Points)
08 June 2018CAN ANYINE TELL ME WHAT PROVISIONS TO BE SEEN FOR ADVANCE(NOT LOAN)GIVEN BY ONE COMPANY TO ANOTHER COMPANY IN WHICH COMMON DIRECTORS ARE THEIR.(BOTH ARE PVT. COMPANIES)
mohammad
(article assistant)
(123 Points)
Replied 08 June 2018
Read section 180 of companies act 2013 if the company is public company.
mohammad
(article assistant)
(123 Points)
Replied 08 June 2018
then section 180 will not be applicable.
mohammad
(article assistant)
(123 Points)
Replied 08 June 2018
no limit dear as on 30 june 2015 section 180 is not applicable on private company.
siva andhavarapu
(ca final)
(388 Points)
Replied 08 June 2018
sir
sec 185 belongs to loans to directors know...its not about advance from company to company
siva andhavarapu
(ca final)
(388 Points)
Replied 09 June 2018
hai sir
186 covers laon but not advance
mohammad
(article assistant)
(123 Points)
Replied 09 June 2018
have you read sec 143(11) though its related to auditing but u will find some of the cases of advances and i think it will be treated as deposit as per the provision of sec 73-76.
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
read section 185
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