Can a company take loan from its Director. If so what are the requirement that need to be fulfilled.
Thanks in Advance
Menu
Loan form director
Replies (2)
Offcourse, the company can take loans from its directors. First the same has to be approved by the board meeting and an agreement can be prepared regarding the terms and condition of such loans.
Regards
CS Jithesh
Agreed with Jitesh, a company can take loan from its directors and it will not be considered as deposits u/s 58A .It will attract Sec 299 so the required disclosure is to made for
Recent Topic
- Is CA through direct entry easy for a commerce stu
- Dividend and withholding tax - DTAA- RSU
- NRI Query: Capital Gains Tax Exemption under Secti
- Royalty payment to UK
- Calculate ITR2 tax with equity and non equity prof
- LTCG on residential property sale - Rebate?
- TDS MISMATCH AND AIS
- Return filing for intervening period upto date of
- EPF Withdrawal taxation
- While e filing otp not generating
Related Topics
CAclubindia
