Hello,
Daily Cash exps limit of Rs. 10000/- apply for loan given to director in cash..
7 Replies
RAJA P M
("Do the Right Thing...!!!")
(128101 Points)
Replied 28 July 2018
Can You explain Your query again.
MILAN B. SHAH
(consultant)
(152 Points)
Replied 28 July 2018
Company had given amount of Rs 30000/- in cash to director and shows as loan to director.
Now my question is limit of 10 k applicable on same or not?
Now my question is limit of 10 k applicable on same or not?
RAJA P M
("Do the Right Thing...!!!")
(128101 Points)
Replied 30 July 2018
Please go to refer sec 185 and 186 of CA...
divya jain
(6 Points)
Replied 01 August 2018
i think daily cash exp limit will not be applicalble in this case
RAJA P M
("Do the Right Thing...!!!")
(128101 Points)
Replied 01 August 2018
As per above said Companies Act Loan to director not applicable...
Manish Ghiria
(CA )
(42 Points)
Replied 04 September 2018
The provision specifies limits only for expense(Payments). Loan given to director in never an expense.
However, provision of deemed dividend may attract if conditions are fulfilled.
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